|
The Motley Fool Discussion Boards
|
Previous Page | |
|
Investing/Strategies / Retirement Investing |
||
|
URL:
http://boards.fool.com/helter-ltltlets-see-when-i-was-15-i-could-10197038.aspx
|
||
| Subject: Re: IRAs for under 18 | Date: 6/4/1998 1:12 PM | |
| Author: TMFPixy | Number: 3574 of 72265 | |
|
Helter, <<Lets see, when I was 15, I could mow a $20 lawn in about 20 minutes, That's $60/hour TAX FREE. I had about 20 lawns - so $400/week TAX FREE. All in about 8 to 10 hours of work after school and on weekends. Lets compare this to McDonalds - even at like $8/hour which they might pay in affluent areas. 8 * 10 = $80, take out taxes - $68. Hmmm.... I wonder if getting a REAL job is such a good idea?>> LOL. Also, I agree about staying off the books for the ability to make and keep more. But if you want the child to have an IRA, it's best IMHO to have that $2K somewhere on the books and reported via a W-2. Regards....Pixy |
||
| Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us | ||