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My experience with custodial Roths is that it was hard to find a place that could do it(this may have changed).

This is a good point. I have not had to deal with custodial accounts for the kids' Roths because they have so little in there that it wasn't possible for them to meet the brokerage minimums. They als deposit $10 or $20 every week or two, so what worked well for us was to let them open their Roth IRA's at the credit union where I do all my banking and where they have accounts. The credit union allowed the Roth IRA's to be just in the kids' names, so there are no custodial issues. In fact, DD just managed to reach the $1000 minimum in her account so that she could move the money from a savings account to a money market account. DS is not far behind, but he works less so it takes longer.

The plan has always been that we'd just start the Roth IRA's at the bank, and then once they had a few thousand dollars saved, we could move it to a brokerage and they could do something more aggressive like buy stock, but with so little money, that doesn't make sense for them just yet. They will be 14 next month, so next year they can actually get real jobs. At that point, I think their Roth IRA savings will start to become significant, so we'll be looking for a broker. I will need to keep this potential custodial issue in mind, so I'm glad that was pointed out on this string. That was very helpful information for me.
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