Anonymous
Post 07/20/2023 09:15     Subject: Re:If your minor child has an IRA
Anonymous wrote:I’m trying to set this up for the kids but they don’t have any income yet. What passes as work other than babysitting and raking thousands in leaves for the neighbor?


Any work they get paid for by a neighbor. So pet sitting, watering plants, dog walking, etc. Coachinf or giving lessons. Anything really.

I track my daughters earnings on a spreadsheet.
Anonymous
Post 07/20/2023 08:18     Subject: Re:If your minor child has an IRA
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I’m trying to set this up for the kids but they don’t have any income yet. What passes as work other than babysitting and raking thousands in leaves for the neighbor?


That passes for work.


Right, but what else? They’re too young for that right now.


you need to document how kids earned that money. household choirs don't count btw
Anonymous
Post 07/20/2023 07:05     Subject: Re:If your minor child has an IRA
Anonymous wrote:
Anonymous wrote:I’m trying to set this up for the kids but they don’t have any income yet. What passes as work other than babysitting and raking thousands in leaves for the neighbor?


That passes for work.


Right, but what else? They’re too young for that right now.
Anonymous
Post 07/20/2023 06:33     Subject: Re:If your minor child has an IRA
Anonymous wrote:I’m trying to set this up for the kids but they don’t have any income yet. What passes as work other than babysitting and raking thousands in leaves for the neighbor?


That passes for work.
Anonymous
Post 07/19/2023 23:20     Subject: Re:If your minor child has an IRA
I’m trying to set this up for the kids but they don’t have any income yet. What passes as work other than babysitting and raking thousands in leaves for the neighbor?
Anonymous
Post 07/19/2023 20:49     Subject: If your minor child has an IRA
Anonymous wrote:
Anonymous wrote:The hotshot stock pickers who should be running IBs will just never stop.

If there was *unquestionably* money to be made in any one stock the price would already be higher. Efficient market theory. The price of the security today reflects the FMV based on all available information.

Index funds. Don’t get cute.


This guy (gal) gets it. Stock bros don't.


Wait till the stock bros learn that index funds actually ARE invested in the stocks they like to pick. Their minds would be BLOWN.
Anonymous
Post 07/19/2023 20:38     Subject: If your minor child has an IRA
Anonymous wrote:The hotshot stock pickers who should be running IBs will just never stop.

If there was *unquestionably* money to be made in any one stock the price would already be higher. Efficient market theory. The price of the security today reflects the FMV based on all available information.

Index funds. Don’t get cute.


This guy (gal) gets it. Stock bros don't.
Anonymous
Post 07/19/2023 20:18     Subject: If your minor child has an IRA
The hotshot stock pickers who should be running IBs will just never stop.

If there was *unquestionably* money to be made in any one stock the price would already be higher. Efficient market theory. The price of the security today reflects the FMV based on all available information.

Index funds. Don’t get cute.
Anonymous
Post 07/19/2023 18:16     Subject: If your minor child has an IRA
Anonymous wrote:40-year olds can do Voo. A kid should do individual stocks in fast moving/changing world the next 10 years.


OP. If you want to follow this advice, just invest equal amounts in the following companies - Appl, Google, MSFT, Amzn, Tesla, Meta, Salesforce. These companies will be survivors in the long run regardless of what technology comes out.. or just invest in QQQ or XLK.
Anonymous
Post 07/19/2023 17:09     Subject: If your minor child has an IRA
Anonymous wrote:40-year olds can do Voo. A kid should do individual stocks in fast moving/changing world the next 10 years.


Give me a break. This person is asking what to do with 6k in a custodial Roth and you want him/her to pick individual stocks?

S&P 500 is fine.
Anonymous
Post 07/19/2023 17:07     Subject: If your minor child has an IRA
40-year olds can do Voo. A kid should do individual stocks in fast moving/changing world the next 10 years.
Anonymous
Post 07/19/2023 15:45     Subject: If your minor child has an IRA
Thanks. Yes, it is a Roth. I will look into these funds.
Anonymous
Post 07/19/2023 14:51     Subject: If your minor child has an IRA
I went with Vanguard Total Stock Market.
Anonymous
Post 07/19/2023 14:42     Subject: If your minor child has an IRA
I'm assuming it's a Roth. If not, convert it to a Roth ASAP.

Invest in an S&P500 and Nasqad index funds - VOO and QQQ - about 50/50.
Anonymous
Post 07/19/2023 12:16     Subject: If your minor child has an IRA
How is it invested? I opened one for my child when he started working, has about $6000 in it, but not sure how to invest it. All in one growth fund? Welcome thoughts.