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I post this every now and then.

Unless there has been some recent change in the law, your child does not need a W-2 to start a Roth IRA...your child only needs earned income. Earned income can be baby sitting, raking leaves, mowing the lawn, etc.

If your child only made $250 in 2013, and will make $250 in 2014, some funds will let you start an IRA with as little as $500. I remember Heartland funds as being one of them. It was possible to start an IRA for $500 after Janauary 1st, with $250 being last years contribution, and $250 for the present year (2014 in this case).

I can't think of a better way to to get your childs retirement account started.
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