Children can open an account if they have earned income. By Kimberly Lankford, Contributing Editor From Kiplinger's Personal Finance, August 2013 My 16-year-old son is working as a camp counselor this summer. Can he open a Roth IRA? --A.L., Villanova, Pa.SEE ALSO: Give the Gift of a Roth IRA Yes. Children of any age can contribute to a Roth IRA as long as they earn income from a job. Your son can contribute the amount he earns for the year, up to $5,500 for 2013. Although some brokerage firms and mutual fund companies don’t let minors open IRAs, several firms with low fees and investment minimums, including TD Ameritrade, make it easy to open a custodial IRA for a minor. Your son can invest in stocks, funds and anything else available to brokerage customers. The IRA must be in his and the custodian’s name, and it must use his tax identification number. Charles Schwab allows a minor to open a custodial IRA with $100; it charges no annual or maintenance fees. Got a question? Ask Kim at email@example.com.