Ep. 175 - Roth IRA for Kids - Turning Your Children into Future Millionaires

What is the easiest, greatest way to set your kids up to be a millionaire

 

Today I am answering a question that I have received many times, in many different ways.

 

This discussion is specifically for parents who want to set up a Roth IRA for their children.

 

02:20 Why is this such a great gift?

04:25 Roth IRA Rules (for kids)

06:35 How do you set up a Roth IRA for kids?

09:06 Who owns the custodial account?

11:48 How does the IRA affect college funding?

12:32 Can multiple children share one Roth IRA account?

13:20 Not every brokerage offers custodial Roth IRAs

 

Resources:

https://www.nytimes.com/2022/06/10/business/kids-roth-ira-retirement.html

Roth IRA Success Story – How to Get $50,000 Tax-Free Money For Your Kids

Roth IRA Rules For Minors. Your Kids Guide to Tax Free Money

5 Best Investments for Roth IRA in 2022

https://www.goodfinancialcents.com/ask

 

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