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Money and Finances
Reply to "Roth IRAs for Kids"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We wanted to teach them the value and importance of saving and compounded interest. Once they started W2 jobs at 15 (lifeguards, unfortunately babysitting didnt count), we offered to match however much they put in. [/quote] But your match is just their spending money or what because it can't go into the Roth[/quote] I think what PP means is that if the kids contributed 50% of their w-2 the parents would do the same to take the contribution up to the allowed level. We have considered the same for our kids first couple years working. Our assumption is that the kids also need to spend some more on themselves to enjoy the fruits of working so wouldn’t expect them to put 100% in ROTH[/quote]
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