5 Tax-Smart Ways To Build Wealth For Kids

5 Tax-Smart Ways To Build Wealth For Kids

As parents, we think a lot about supporting our kids, from making sure they have a healthy diet to a good education. But are you also doing all you can to help set them up for a good financial future?

Be a tax-savvy parent with these 5 tax-smart ways to help build wealth for your kids.

00:18: Start Investing for them, but with them so that they learn how to invest for themselves in the future.

00:30 Make 529 Contributions and don’t be afraid to slightly over-contribute

00:42 If you are self-employed, employ your kids, make them earn their allowance.

00:53 Contribute to their employer’s retirement plan, so that they can benefit from the company match.

01:04 Contribute to a ROTH once they have earned income, whether it’s through babysitting, odd jobs, or the local grocer.

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