Texas Proud
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 16, 2005
- Messages
- 17,266
OK, my oldest turned 15 a few months ago and is already talking about learning to drive... my vote is that he will need to get a job to pay for his gas etc.... it will probably not happen until he is 16... but, I like to plan ahead...
My thinking is that whatever he earns I will make him save 50% and put it in a ROTH... I will match that amount, so in effect all his income net of taxes will be invested...
Is there a problem with this? I can not find any age requirement for opening a ROTH. I have looked in general and at Vanguard and do not see any age limit.
Any thoughts or suggestions
My thinking is that whatever he earns I will make him save 50% and put it in a ROTH... I will match that amount, so in effect all his income net of taxes will be invested...
Is there a problem with this? I can not find any age requirement for opening a ROTH. I have looked in general and at Vanguard and do not see any age limit.
Any thoughts or suggestions