January 15, 2023
Investing Early: A Teen’s Roth IRA Could Be a Retirement Game-Changer
A reader is seeking advice on whether to encourage their 17-year-old grandson, who already saves half his paycheck, to invest in a Roth IRA. The financial advisor suggests it’s a good idea due to the potential for tax-free growth, noting that anyone with earned income can contribute (up to $6,000 in 2022 or $6,500 in 2023), and a custodial Roth IRA would be needed until he
