Getting short
Recycles dryer sheets
- Joined
- Jul 19, 2007
- Messages
- 63
I opened a Roth IRA for my daughter when she started earning money at age 16. I told her I'd match whatever she earned, a good lesson in the magic of time and compounding.
She just made a decision that may alter her financial status for a long time, she decided to attend a top state university on a full scholarship rather than a 50k/yr private. That means the 200k I saved for her college education will be growing for at least the next four years. It may go towards professional school later, or a business start up, or maybe just keep earning until she wants to purchase that first house... It's an incredible position for an 18 year old, and luckily she's mature enough to understand the choices this opens up for her later in life.
She just made a decision that may alter her financial status for a long time, she decided to attend a top state university on a full scholarship rather than a 50k/yr private. That means the 200k I saved for her college education will be growing for at least the next four years. It may go towards professional school later, or a business start up, or maybe just keep earning until she wants to purchase that first house... It's an incredible position for an 18 year old, and luckily she's mature enough to understand the choices this opens up for her later in life.