If you have a child who earns money, the last thing you want is for him or her to blow that cash on nonsense. Therefore, teaching that child to save at a young age is crucial. And while you could encourage your child to stick that income directly into a savings account, you might consider a more potentially lucrative alternative: an IRA.When we think about people funding IRAs, we tend to imagine working adults who are looking to sock away money for retirement.
Comment on Should I Open an IRA for My Child?
newsfeedback@fool.com (Maurie Backman), The Motley Fool
Tue, 05/29/2018 - 4:06am
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