2 Great Reasons to Open a Roth IRA for Your Kids in 2024

Opening an individual retirement account (IRA) might not be top of mind this year, but if your child landed a summer job, it's something to consider. A Roth IRA is a retirement account where contributions are made with after-tax dollars now in exchange for tax-free dollars during retirement. Since most children are in a lower tax bracket, a Roth IRA makes sense for tax purposes.If you're on the fence about opening a Roth IRA, we've jotted down three reasons why it might be one of the best moves you can make for your child's long-term success.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Zum vollständigen Artikel