In this episode of the Sunlight Tax Podcast, I’m discussing the benefits of tax-advantaged savings for children, specifically focusing on a Roth IRA for kids. I explain how parents can open a custodial Roth IRA for their kids, the advantages of a Roth IRA, and the importance of teaching children about compound interest and financial literacy. 

This episode also emphasizes the long-term benefits of starting early with investments and how this can empower the next generation financially.

Also mentioned in today’s episode:

00:00 Introduction to Tax-Advantaged Savings for Kids 01:50 Understanding Roth IRAs for Minors 05:28 Investment Strategies for Kids' Roth IRAs 09:05 Teaching Kids About Compound Interest

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Links:

Roth vs Traditional IRA: Does it even matter?

How to fund your IRA: Pay yourself first

Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.

Link to pre-order my workbook, Taxes for Humans: The Workbook

Get your free visual guide to tax deductions

Check out my program, Money Bootcamp