Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Re: Kids & IRAs.
Old 10-24-2005, 09:41 AM   #41
Dryer sheet aficionado
Join Date: Oct 2005
Posts: 31
Re: Kids & IRAs.

Hawaii labor laws allow part-time work at age 14 and she'll probably get a job at the local Kumon franchise, but again that income by itself probably wouldn't earn enough to make the minimums of a custodial account.

Last time -Account minimum: $500- Regular IRA, Roth IRA, custodial Roth IRA
No annual fee, no set-up fees, no termination fees, No Inactive account fees, No Account Maintainence fees and no-transaction fee mutual funds. Let it build to the minimum for the company that you prefer and than move it if you want. Getting IRAs started as early as possible is important in my opionion. Doesn't take a whole lot of hours to equal $500 even at minimum wage.

pagar is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Kids & IRAs redux. Nords Young Dreamers 9 07-11-2006 07:42 AM
Cost of kids accountingsucks Young Dreamers 24 06-21-2006 06:37 AM
Square peg looking fwd to ER with kids Green Jeans Hi, I am... 6 04-08-2006 03:56 PM
Good Schools for Early Retirees Kids thinkingaboutit Life after FIRE 24 03-05-2006 03:07 PM
Overweight kids in Australia... Lancelot Other topics 18 12-16-2005 07:47 AM


All times are GMT -6. The time now is 11:54 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.