2. Start a Roth IRA

Roth IRA i.e., Individual Retirement Arrangement is a particular type of retirement plan below U.S. law that is usually not taxed, but only if particular provisions are met. The U.S. tax laws grants a tax diminution on a certain amount of saving for retirement. The Roth IRA's most important distinction from most other tax benefits retirement plans is that, rather than yielding a tax break for money placed into the plan, the tax break is granted on the money withdrawn from the plan during retirement.

Thinking about your retirement savings if you are not working will sound meaningless. In case if you are earning some income through working as a part timer in a restaurant then try to save some small amount from it in a Roth IRA.

3. Buy Some Stocks That Interests You

You can learn the art of investing at your teens by investing in your favorite brands. Disney and coca-cola are few companies which are well known to most of the teenagers and have potential growth.

Buying Stocks at Disney is a good option for those who are investing in stocks for the first time; its theme parks and movies are known worldwide.  It provides with a lot of growth and profit through dividends.

There are a number of companies from entertainment industry, restaurants, toys and game manufacturers who encourage teens and college students to buy stocks, helping them financially for their educational purposes.

Also Read:

10 Types of Taxes Which You Have Never Heard Of

5 Best Bank Accounts for Indian Women