Set Your Child Up for a $1 Million Roth IRA in 2024
Putting coins in a piggy bank might be a fun way to jump-start your child's saving journey, but opening a Roth IRA (individual retirement account) could be the ultimate wealth builder.
Roth IRAs are packed with benefits, including tax-free withdrawals during retirement. And anyone with earned income can contribute to a Roth IRA. So if your child is working this year, you can set them up with a Roth IRA and position them for a million-dollar portfolio before retirement.
Source Fool.com