Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "What age to start Roth/ retirement plan for teen daughter?"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous][quote=Anonymous]Is 18 too young? What's the lowest you can put in? Is there a plan you can put in small amounts whenever you get money versus a regular savings account. DD is 18, i would like to get her started.[/quote] I don't think 18 is too young. It's good to get started early. Assuming that your daughter doesn't have a job that offers a 401k with employer match, then you can open a Roth IRA for her as long as she has income. You can contribute as little as you want, but the current contribution limit/max is $7,000 in 2025 as long as she's under the income threshold. So if you only wanted to put in $100 for 2025, you can do that. It's probably best to try to get as close to $7,000 as possible though.[/quote] If you have a 529 for her, then that could be rolled over to a Roth IRA for her. I think it's capped at $35k.[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
