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Reply to "Where should teen put summer job money?"
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[quote=Anonymous]That's my point on the IRA match from parents. Kid makes $500. Kid can put $500 in IRA. But maybe kid would also like to spend some money. So my deal with my kids is hey - go ahead and spend half your money and I will give you $250 so you can also put $500 in your IRA. In other words if they put half their earnings in IRA, I will match. Totally allowed. [/quote]
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