Solo Teen Ira -

If a teen earns $2,000 and wants to spend it on a car, parents can "match" that amount by contributing $2,000 of their own money into the teen's IRA (as long as the total doesn't exceed what the teen earned).

The adult manages the account, but the assets belong to the teen. solo teen ira

Wages from a part-time job (W-2), or 1099 income from "gig" work like babysitting, lawn mowing, or dog walking. If a teen earns $2,000 and wants to