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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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- 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.
- Child IRA Calculator
- The Parent’s Guide to Turning Your Teen Into a Millionaire
- From Cradle to Retirement
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.