Ep. 175 - Roth IRA for Kids - Turning Your Children into Future Millionaires

What is the easiest, greatest way to set your kids up to be a millionaire   Today I am answering a question that I have received many times, in many different ways.   This discussion is specifically for parents who want to set up a Roth IRA for their children.   02:20 Why is this such a great gift? 04:25 Roth IRA Rules (for kids) 06:35 How do you set up a Roth IRA for kids? 09:06 Who owns the custodial account? 11:48 How does the IRA affect college funding? 12:32 Can multiple children share one Roth IRA account? 13:20 Not every brokerage offers custodial Roth IRAs   Resources: https://www.nytimes.com/2022/06/10/business/kids-roth-ira-retirement.html Roth IRA Success Story – How to Get $50,000 Tax-Free Money For Your Kids Roth IRA Rules For Minors. Your Kids Guide to Tax Free Money 5 Best Investments for Roth IRA in 2022 https://www.goodfinancialcents.com/ask   Check out my YouTube channel here. Follow me on Twitter and Instagram.