Teaching kids about money means a lot more than doing things like posing the old “Would you rather have a nickel or a dime?” question to a young child or making sure your pre-teen knows how to figure out how much of a discount 15% off is. » Read more
If your child has taxable earned income and qualifies, a Roth IRA can be a great way to get them started on investing for retirement. This is the case for several reasons.
Like Roths for adults, money in a Roth IRA for children grows tax free. Since the majority of kids have very low earned incomes, they’re probably paying little or no taxes on that income anyway. In that case, a Roth can be even more beneficial because it’s likely that most or ALL of the money added to the Roth will be tax free. » Read more
“Money management isn’t taught in schools,” goes the complaint. “That’s the reason people don’t know how to handle money.” » Read more
We got the FAFSA (Free Application for Federal Student Aid) filled out for my son yesterday, beating the “financial aid goes early” deadline of » Read more