<prompt> Human: Hi, I am looking to open an IRA while I still am in school, a quick look on the web and talking to a few people have suggested Vanguard but I do not have the minimum 3000 deposit to open one, I bank with Ally and was looking at their IRAs that are CDs and savings account, which I thought are good since they compound interest daily and with the savings one I can contribute about 100 a month. Any advice would be great.  <response>: The minimum for a Vanguard target date fund is 1000. Do you meet the earned income requirement to contribute to an IRA? You are eligible to contribute the lesser of 5500 or your earned income. 