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RF asks:

I appreciate the response but the big questions - are there companies that will take Roth IRAs for minors, which ones and how do they have to be registered ? What my kids do with money is not an issue for me - it's the logistics of getting the IRAs set up that's a problem.

As Shess pointed out, as long as the kids have the earnings, the IRA can be funded from any source, to include from a check you write. The big trick is to find a brokerage/fund that will accept the account from a minor. Though legal, many funds/brokers won't do it because an IRA is a contract and minors can't be held to one. There are a few, though, who will. I'm told Vanguard does. An adult has to act as the child's agent/custodian until the child reaches majority, but that's no big deal. As I said, the problem is finding an agency to accept the account.

Let your fingers do the walking, and good luck in the search.

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