Starting a Roth IRA for your child
Feb 15If your child has a summer job consider starting a Roth IRA for them. You can match their earnings and open an account in their name. You have now created a life time of tax free compounding of earnings for your child. What a gift!
This article provides good insight on the topic.
…you can contribute up to the amount of money they earned last year or $5,500, whichever is less. As long as the child had eligible income, you can give them the money to contribute.
About SaverNotes, LLC
Headquartered in Eden Prairie, MN., SaveNotes, LLC provides a unique alternative to stocks, bonds and CD’s by providing fixed income with high return, while remaining easy to invest.
SaverNotes pays interest to its investors based on a variety of available investment amounts and maturity dates. SaverNotes have no fees or expenses and are available for any Minnesota investor. Current rates range from 3.00% to 6.00% based on terms of two to five years. Investors can also invest through their IRA account.
| Regular | $2,000 + |
| IRA | $25,000 + |
| Term | Interest Rate |
| 2 Year | 3.00% |
| 3 Year | 4.00% |
| 5 Year | 6.00% |
Learn about how this investment fund was made possible through our investment partnerships and our experienced legal, wealth management, banking and accounting advisors at www.SaverNotes.com.