Roth IRAs for Children Earning a Wage on the Farm with Jessica Groskopf

When children earn wages on the family farm, they are often placed in a savings or 529 account. But Jessica Groskopf, an agricultural economist with Nebraska Extension and the Center for Ag Profitability, also encourages families to consider opening a custodial Roth IRA account, which can have greater earning potential than savings accounts and more flexibility that 529 accounts, among other considerations.  Groskopf, along with Doug Nelson, an adjunct professor with UNL’s Child, Youth and Family Studies department, has authored a new article comparing Roth IRAs to savings accounts and 529 plans. Read more at https://cap.unl.edu/finance/roth-iras-children-earning-wage-farm.