447 | Mailbag: Breaking up with your Advisor, I Bonds, 4% Rule, Accounts for Kids, Roth IRAs | Sean Mullaney
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How to Start an Investing Account for Your Kids
Consider setting up a uniform transfers to minors account or a uniform gifts to minors account as taxable brokerage accounts. Name a guardian for these accounts. Alternatively, if your child works and receives a W-2, there's no age minimum to open a Roth IRA. Explain to them how their earnings can contribute to a Roth IRA and encourage retirement saving.
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