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Roth IRAs For Kids and Grandkids!

If you have kids or grandkids who earned some money this summer or who might in the future, this Brief is for you. I actually got the idea from a client of ours who has been doing this for her grandchildren for several years, splitting her $14k allowable gift for each child between a Roth IRA account (when the grandkids have some earned income) and a more traditional brokerage account (e.g. an UTMA account if the kid is under age 18) if not. It’s a great idea so I wanted to share it with all of you.  Please get in touch if you have any questions.

P.S.  The above is still relevant if the “kid” is a working grownup receiving annual gifts from parents for estate planning purposes.

Leigh Bivings, Ph.D., CFP®, CDFA™
Leigh Bivings, Ph.D., CFP®, CDFA™
Leigh is CEO and Founder of Artemis Financial Advisors LLC. Leigh has a Ph.D. in applied economics from Stanford University and is a Certified Financial Planner (CFP®) and Certified Divorce Financial Analyst (CDFA®). She enjoys working with clients and strives to give them peace of mind and robust frameworks so that they can make more informed choices about spending and saving and make these choices with enhanced confidence.

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