At what age can individuals with earned income own an IRA?

Individuals with earned income can open and contribute to an Individual Retirement Account (IRA) starting from the age of 18. The critical factor for eligibility is having earned income rather than a specific age. Therefore, the age mentioned in the options does not align with the actual criteria for owning an IRA.

In practice, many people begin contributing to an IRA while they are actively working and receiving income, typically in their 20s or early 30s, and can continue to do so as long as they have earned income, regardless of whether they are over 60 or even past the ages listed in the choices. Understanding that earned income is the key factor for IRA eligibility will clarify that age-related limits, as presented in the choices, are not applicable in this scenario.