No. of Recommendations: 1
I offered to match(1-1) for Roths for my kids from the time they started working(varied from 14-16) and continue to do so(24,27,30).

I did it to encourage them to save for retirement and get them started. I do it now because I can and would rather offer this than have them wait for me to die to inherit.

In other words they can't simply pull the money out and buy a something :).

Depending on your state, they have financial majority at 18. They are most likely to follow whatever example you've set concerning finances. If you plan to have some type of control based on the Roth, good luck.

Putting $500 in a Roth isn't much different than having the money in their investment accounts. It's theirs to do with as they please. In both cases, you will be impacting their taxes and choices so it would be good if they fully understand what you've done/are doing.
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement