I disagree. He said that he was providing *matching* funds, and only $500 at that.

Matching funds are great. I've done that for my kids' Roths from when they started working in their teens until fulltime salary/real life. The part that concerned me was the "I opened Roth accounts for them" piece. I showed them or helped them is what I would (and did do) for someone over 18.

The children and only the children are responsible for their tax and other financial concerns and no account should be opened without their prior knowledge and approval. IMHO, of course.

rad