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Reply to "Roth IRAs for Kids"
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[quote=Anonymous]We opened Roths for our kids as soon as they had W-2 jobs. We then contributed up until they got their first professional jobs after school. They saw the value of the Roth and now max out their own contributions. Also we did set up UGMA for their educations (vs 529s). Any left over was theirs, ie if they got scholarships, DE credit, public etc (and we talked a lot about trade offs/choices.) Both are using the remaining balances as part of housing down payments. Yes, we are very blessed to have these resources and to be able to provide for out kids. We also talked a lot about finances and how to manage money so they are making wise choices. [/quote]
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