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In the past two episodes, I have talked about financial education for our children and instilling them with a basic working knowledge and literacy when it comes to money. I also discussed in Episode 136 about how you should start saving for retirement in your 20s and how it can be done.
But what if you started earlier than that? What if our kids started saving for retirement even before they graduated from high school? In this episode of the podcast, I will talk about how parents can help their children start saving for their retirement and get the earliest start doing it.
In this episode you will learn:- Why starting your child in saving for retirmenet is a good idea
- Why a Roth IRA is a better choice
- How to set up the IRA
- How to fund the IRA
Links & Resources
- The Benefits of Starting an IRA for Your Child (Investopedia)
- Why You Should Open a Roth IRA for Your Kids (CNBC)
- Investopedia's List of Best IRA Accounts and Brokers
- 401k Tips for a Choppy Investment Market (CNBC)
If you enjoyed this episode, you might also like:
- Episode 152: Development of Financial Personalities with Vince Shorb
- Episode 151: Personal Finance for the Real World with Jake Cousineau
- Episode 136: Starting Early on Retirement Savings
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