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Hints and Tips
Make Your Grandchild a TAX-FREE Millionaire!
If your teenaged child or grandchild is gainfully employed, they can contribute up to $4,000 a year to a Roth IRA, The contributions aren't tax deductible, but at the child's puny tax bracket it does not matter.
Lets say the child puts in $4,000 a year between the ages of 16 and 21, and then does not contribute another dine. If the ROTH IRA earns 10% per year, the child will have $2,045,042 at age 65. And the money will be 100% tax-free!
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