A teen with a part-time job can contribute to a Roth IRA, which is a flexible way to accumulate funds for college, retirement, and other long-term needs.
High-income participants will not be allowed to make pre-tax catch-up contributions to a traditional 401(k) or similar plan starting in 2026, but they will be able to contribute to a workplace Roth.
Use this calculator to estimate how much income and savings you may need in retirement.
How much do you need to save each year to meet your long-term financial goals?
How much will it cost to pay off a loan over its lifetime?