Act Fast to Make Roth IRA Contributions for Your Child

Junior can fund a Roth as long as he has earnings from a job. But the deadline for making contributions for 2015 is April 18, 2016.

Money Woman
(Image credit: Getty Images/iStockphoto)

My 16-year-old son worked as a camp counselor last summer. Can he contribute to a Roth IRA?

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Kimberly Lankford
Contributing Editor, Kiplinger's Personal Finance

As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.