How to invest and make my own money without a job
Funding an investment account like a Roth IRA requires earned income, which leaves students living off family support or without a job unable to contribute independently. This restriction prevents people from building their own personal savings or generating independent spending money while managing heavy school obligations.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
Found another way around this?
Share your steps and trade-offs so fellow engineers don't have to reinvent the wheel. No account required.
How to invest and make my own money without a job
- 1Getting a campus job or working a lotDid this help you?
- 2Reading basic personal finance wiki guidesDid this help you?
- 3Asking on public forums or subreddits for tax clarificationDid this help you?
- 4Filing taxes jointly versus separately to see contribution eligibilityDid this help you?
- 5Using tax software like TurboTax to run hypothetical scenariosDid this help you?
- 6Reporting informal income on tax returns to establish earned incomeDid this help you?
- 7Paying self-employment taxes to qualify for tax-advantaged accountsDid this help you?
- 8Focusing on graduating with zero debt firstDid this help you?
- 9Waiting until finishing school to get a job and then contributing 20% to investmentsDid this help you?
- 10Saving up a cash emergency fund covering a few months of expenses before investingDid this help you?
- 11investing in a taxable brokerage accountDid this help you?
- 12getting a second job to open up Roth contribution spaceDid this help you?
- 13using an HSA if enrolled in a high-deductible health planDid this help you?
- 14Using a plain old regular taxable brokerage accountDid this help you?
In their words
Unedited, grouped by where they were said, most upvoted first within each place, each linked to the thread it came from.
“Theoretically… can my wife open a ROTH IRA and I fund it with my income as she cannot?”source ↗
“Her income falls below the ROTH limit so no backdoor method should be needed for hers.”source ↗
“I wanted to know if can I open and contribute to a Roth IRA if I do not file annual tax returns? My only source of income is from babysitting, and I earn approximately $150–$225 per week, which I believe is below the taxable income threshold.”source ↗
“Since I don’t have access to an employee 401k, what other retirement savings can I invest in?”source ↗
“I have a Roth IRA but again, this dosnet count as income, so I am unable to contribute to it based off my taxes.”source ↗
“Filing separately would likely make a big and bad difference in your taxes.”source ↗
“Does it not matter filing separately because we’re married?”source ↗
“Self-employment income (such as your babysitting) triggers a tax filing requirement at $400 of net profit, as you owe self-employment tax (Social Security and Medicare) even if you don't owe income tax.”source ↗
“yeah but i will probzbly have no debt at all even when i graduate(not bragging),its just that almost all my friends have started investing when they were 20 and im like 22 now and afraid i might regret it soon”source ↗
“Lately, I feel really insecure about money.”source ↗
“I have never had a job and just joined a sorority- my parents are fine with financing me through college, but I want money for myself.”source ↗
“I would get a job on campus, but I fear that I wouldn't have enough time to do that on top of schoolwork and sorority obligations.”source ↗
“I like the idea of setting up a Roth IRA but don't exactly know how it works, or how much money I am guaranteed to receive in a month span.”source ↗
“i was wondering should i start investing some money right now,im a student in med school and have no debt at all parents cover almost everything from bills to gas to food or should i wait till i finish it get a good job which would realistically be possible at about 28 or 29”source ↗
“I will have a fair bit of surplus income and I have no idea how to invest it without a job and a 401k.”source ↗
Where this came up
People with this problem also raised
- 10How to get a mortgage without a traditional salary or employment history
- 2How to start investing with fluctuating or seasonal income
- 7How to pay credit card debt with no job and leaving the country
- 4Can my retirement contributions exceed my earned income?
- 6How to move out and become financially independent with no family support
- 5How to turn a business idea into reality with no money