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.
From confusion to clarity, Accountabilities has you covered.