Quote:
Originally Posted by Katsmeow
Another point. I am trying to imagine what would have happened if a relative told my kids that the kids needing to work for them .... but 100% of the money paid was going into retirement funds. That...would not have gone over well.
I mean, sure, this is good and all. But if she does work for you, then she giving up her time to do work and not receiving the benefit of anything she will see for probably half a century. I am not seeing why any kid would want to do that. In other words, I think she would want to reap some of the benefits right now rather than 50 years from now.
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OP's motives are good but the entire thing seems like over involvement to me. In my mind what's driving the bus is the Roth concept. Rewarding a kid for being industrious is one thing and the Roth is another thing, especially in a young child.