No. of Recommendations: 0
Although I try to provide well for my family, I've also
tried to teach my daughters the value of working as
well as investing. This last summer, I wanted my 16yr
old to get first hand experience. The proposal I made
to her was that if she worked, I would match any money
she made so she could open a ROTH IRA. She took my
offer and earned $800 of which both she and I are very
proud. Now, the problem I have is finding a firm
that will take a Custodial IRA account. Most discount
brokerages will not accept a Custodial IRA. Schwab will
but for a $30 maintenance fee and a $30 transaction fee
for stocks, this is just too much on an $800
investment. The only acceptable alternative has been
Stein Roe Mutual fund which has $10 maintenance fee for
their "no load" mutuals. In 2 years there won't be a
problem but until then, does anyone have any other
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