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Ep. 175 - Roth IRA for Kids - Turning Your Children into Future Millionaires
Manage episode 332126373 series 3019348
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
Check out my YouTube channel here.
318 odcinków
Manage episode 332126373 series 3019348
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
Check out my YouTube channel here.
318 odcinków
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