No. of Recommendations: 0
As someone who´s father encouraged him to start an IRA at the age of 16 I think it´s a great idea and a good way to get your kids to start thinking about retirement planning, something that is probably furthest from their minds right now.

Instead of fully funding their IRA´s, one recommnedation would be to mimmick a co-funded retirement scheme, whereby you ´match´ their contributions 1:1, 10:1, 25:1. This way they will be contributing some of their own funds towards retirement and will become ´vested´ in the process. Hopefully they will derive the same thrill from compounding that you do.

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