What account to start for teen from first job wages?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Silly me. I thought fully funding my kid’s college was more than enough but now I also need to match what they earn so they can put their summer earnings in a Roth instead of their own savings account? Jesus.

I haven't been on this forum long, but ive quickly found it demoralizing for those who aren't wealthy.

None of us are as wealthy as the billionaires who run the country, so we’re trying to sock away as much as we can for our kids using available resources. Who knows how effective it will be in the face of AI related job displacement and growing inequality in the future.

100%. Trying to do the best we can so our kids have to stress a little less. I had a completely different perspective even 10 years ago. But now with AI and the state of government, I’m over the principle of kids pulling themselves up by their bootstraps. Things are going to be so different in even 5 years. Trying to give them advantages to have a little financial fallback. It is going to be a wild ride.