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re: 14 Year Old Wants to Invest
Posted on 4/6/17 at 10:46 am to mule74
Posted on 4/6/17 at 10:46 am to mule74
quote:
One piece of advice, don't let them open up a retirement account. Mrs. Mule thought she was really smart when she was 18 so she opened a Roth with $3000 that she got from her graduation. I discovered it when we got married. The fees have basically eating up any gains and she now makes too much to invest in a roth.
What? Then you need to change whoever it is with. Get a Vanguard, Schwab, etc. and the fees are incredibly low. Your Roth account has nothing to do with "making too much to invest", that is 100% dependent on your year to year income.
1
Posted on 4/6/17 at 6:57 pm to baldona
Correct our year to year AGI is too much to do a Roth.
This post was edited on 4/6/17 at 6:58 pm
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