<prompt> Human: No one in my family has any idea how this kind of thing works poor family from SC, but i know its more complicated than putting money in a savings account. Can anyone here explain my options because i have no idea where to start? I have a minor part time job like 200 a month just whenever i have time to tutor  <response>: Heres the 2 things I wish someone wouldve told me when I was 18. The first being not to focus on a certain amount of to save but instead a percentage. Start by putting 10 of the money you make into a Roth IRA, regardless of what your job pays. Your HR or accounting department should be able to take the money directly out of your paycheck and put it into your IRA. If you never see it its SOOO much easier to save it. Once you get used to it youll never miss that money and honestly youll forget about it quite often. The second is that even if its a small amount, start as early as you can. If you start with a Roth IRA when youre 18 with 500 and contribute just 500 save more when you can, this number is low and just for the example a year at age 65 with a 7 interest rate youll have roughly 190,000 from contributing just 23,500. If you follow the same formula but start 12 years later when you turn 30 you end up with just 80,000 from contributing 17,500. That 6,000 that you invested instead of spent on that sick motorcycle or picking the mustang over the honda etc etc cost you 110,000 in the long run.Enjoy yourself while youre young and spend your money responsibly. 