Thread: Money Investing megathread extravaganza
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Old 05-21-2020, 09:36 PM   #4937
lewdog lewdog is offline
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Join Date: Sep 2011
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Quote:
Originally Posted by jdubya View Post
So i just got a $2900 check from the stimulus bill I guess. I dont need it personally but I have a 16 year old daughter and thought I would put this in as a starter sum for investments for her. Is she too young for a ROTH IRA? What kind of account would some of you do for your kid? We already have an established college fund for her.....I figured I wanted to start her on a retirement or long term investment fund.
ROTH IRA is the perfect choice as long as she generates her own income for the year. My parents did this for me when I got my first summer job at 15 years old. They put $1k in a ROTH IRA to get me started.
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