Reply to Roth IRAs for Kids

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My kids are too young, but as soon as they have income I’ll start. My parents did this for me, even in early years after college and that investment is worth so much now. [/quote]

They could have done this for you in just a taxable account as well and you don’t even need any income.[/quote]

OP here. A cautionary note about taking this approach. We put money into a regular brokerage account as part of a money lesson for our kids and they received money from their grandparents to put in the account, too. Now that they are in college, they’re looking at that money as something to withdraw for new cars (they have hand-me down cars at their disposal), trips, and other short-term spending opportunities. If the money was in a retirement account, it would have saved us a few arguments.[/quote]

Tell them no or let them use their income for their spending money and work it out.  Why aren't you using the money to pay for college?[/quote]

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