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Reply to "Helping Setting Kids up for long term Financial Stability"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If they have earned income, give them money towards a Roth IRA. My Dad did this for me all through college and grad school and that little but if money has grown so much. [/quote] Good dad! Contributing to your kid’s Roth IRA as soon as and for as long as they have earned income (but not enough to contribute themselves without really feeling it) is one of the best ways to financially support your kids. [/quote] +1 We have done this with our kids, and once they start "real job" with 401K, we help with that as well. By time kid is 30, they will have the "equivalent of $2M+" at retirement age already in their Roth and 401K. Advantages of maxing retirement in 20s is huge leg up [/quote]
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