My 18yo niece is just about to begin college. She has a few thousand dollars saved and would like to begin her retirement savings. This comes after a discussion with her telling how far ahead a young person would be who had the great advantage of an early start and steady saving discipline.
She looked into it and was told she'd need to be employed in order to set up the Roth IRA and make contributions. My question is what would be considered a "job" that would meet minimum requirements. I mean, are we talking baby sitting job, or something more significant? Uber driver who takes on 1 or 2 taxi jobs a year?
Ideas or insight appreciated.
Thanks.