What is the maximum amount that you can open a ROTH IRA with?

Answer 1

If you're under the age 50, no greater than $4,000 can be contributed during the tax year, and the amount you open the Roth for can't exceed your earned income. For example, if you've earned $2,500, your Roth contribution can't exceed $2,500 (same as the old IRA rules). If you've earned $20,000, you can contribute the full $4,000. If your income exceeds $100,000, some excess earnings rules start kicking in and you may not be able to contribute to a Roth (the amount will vary depending on your filing status). If you're over 50, you can do a "catch up" contribution of an additional $500.