Good for you for getting a job and looking into these things. To answer your question: no. Roth IRAs and checking accounts are completely different. You will always have a checking account, and Bank of America is fine. If your parents have access to your checking account, I would recommend cutting that tie and getting your own account now that you have your own job. Next you need to learn the absolute basics of personal finance, investing, saving, retirement planning etc. A retirement account (such as a Roth IRA) is kept in addition to your checking account. The first thing you need to do is find out if your work offers a 401(k).