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Author: adriana3136 Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75833  
Subject: opening account for Mom? Date: 3/25/2004 7:56 AM
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Hey everyone!

My mom is awful with money. She's close to 50 years of age, does not own her home (divorced several years ago and agreed to let dad have the house), has thousands of $$ in CC debt, and does not have a retirement account. (Also, I don't think she has health insurance, but that's another problem).

I wanna start a ROTH IRA account for her. Is that possible? I know you can start a custodial account for a minor, but can you do that for your mom? I don't want her to be able to borrow against it, but I want her to have a tax-advantaged account.

Any help would be appreciated.
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