Why Your Child Needs A Roth IRA, With Chris Carosa

Starting a Roth IRA for your child might be one of the smartest investing moves a parent can make, but most of us fail to do so.

Chris Carosa joins Michael to discuss the benefits of the Child IRA, including strategies for generating sufficient earned income to contribute and recommendations for getting started.

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Episode Highlights

  • Basics of a Child IRA, including the requirements for establishing one.
  • Review of the various options for generating earned income for minors.
  • Why a Roth IRA makes more sense for young children.
  • Discussion of the different financial service providers and the relevant fees.
  • Importance of the Child IRA to financial advisors thinking long term.

Episode Resources

Today’s Guest: Chris Carosa

About The Tax Efficient Investor Podcast

On the Tax Efficient Investor podcast, we show you how to protect, grow, and transfer your wealth by implementing tax-advantaged investment strategies. Host Michael Johnston demystifies tax strategies that are favored by the most successful and sophisticated investors, including 1031 exchanges, IRA & 401k plans, HSA accounts, trusts, real estate, and more.

Michael Johnston, CFA
Michael Johnston, CFA

Michael Johnston, CFA is the co-founder and President at WealthChannel, and host of WealthChannel Academy.

Michael previously founded ETF Database, the leading independent authority on exchange-traded fund investing.

Michael's professional experience includes positions in corporate finance and investment banking, as well as entrepreneurial experience as a co-founder and early employee in multiple high growth, venture-backed companies.

Michael graduated from the University of Notre Dame with a degree in Finance. He lives in Oregon with his wife and son.