Contributing Editor Kim Lankford of Kiplinger’s magazine talked to Associate Client Advisor Anthony LaBrake, CFP® in our office about how opening a Roth IRA can get your child on the road to becoming an independent and financially responsible adult (click here to see Kim’s entire article).
“Contributing to a Roth IRA can be one of the smartest financial moves for teenagers starting to work,” writes Kim. “Even contributing a small amount at first can make a huge difference over the long run.”
How big can that Roth grow? You would be amazed.
Regular Roth contributions starting in your teens and extending to retirement can grow to over $1.7 million dollars, says Anthony.
And here’s the best news. That money is totally tax-free in retirement. That’s a great start that’s hard to beat.
Read Kim’s article here.
Did you know you still have time to contribute to a Roth IRA for 2017? The deadline is April 17, 2018, when your taxes are due.