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re: Beginner investors. My 2 teen kids.
Posted on 4/4/23 at 8:29 pm to lsugorilla
Posted on 4/4/23 at 8:29 pm to lsugorilla
Another thing to consider, if you open Roth IRAs (assuming they have enough income) it won't count against them for financial aid on FAFSA. Student owned assets in a regular account are assessed at a higher rate than parent assets. Plus, Roth contributions can be withdrawn anytime no tax or penalty they just wont be able to touch the growth until retirement age.
3
Posted on 4/4/23 at 8:35 pm to TorchtheFlyingTiger
Btw this is gold
If you could set up a Roth and put in 100k the kids could screw with and active trade they could make a lot of money
If you could set up a Roth and put in 100k the kids could screw with and active trade they could make a lot of money
Posted on 4/4/23 at 9:32 pm to TorchtheFlyingTiger
quote:
TorchtheFlyingTiger
Thank you
Posted on 4/5/23 at 1:21 pm to TorchtheFlyingTiger
quote:
Roth contributions can be withdrawn anytime no tax or penalty they just wont be able to touch the growth until retirement age
Can you do Roth IRA with fidelity.
I was thinking not only for their retirement. But have the ability to help as down payment on home when/if they decide to settle down and start a family
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