Would it make sense for a college student to invest in an IRA? If so, what is better a Roth IRA or a traditional IRA?

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Posted by Michael Drougas (MONEY FORUMS: 4, Answers: 0)
Asked on April 30, 2016 11:15 pm
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If you have any savings/earnings that you do not need for other things (your expenses are covered and you have an emergency fund established), then yes, it makes send to invest that money to an IRA. If you have no income, then a Roth IRA makes sense, because you would not benefit from the deductibility of your contributions now, and Roth IRA earnings and withdrawals are NEVER taxed.

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Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: May 1, 2016 2:56 pm