Go to Jeff Salisbury LWGate Home Page.From: "Louis J. Schwarz, CFP, RFC" <louis@deafmoney.com>
Subject: Re: IRA for Kids
Date: Fri, 29 May 1998 20:05:05 -0400
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> Date: Tue, 26 May 1998 08:32:48 -0400 (EDT) > From: JimFGE > > I have two children - one is in high school, and the other is in college - and > I'm wondering about the "legalities" of starting IRA's for both of them. Each > works part time in your basic burger-flipping job, and each clears a few > thousand a year. I know there are some limits based upon income. Has anyone > done this for their kids? Can any of the pros reading this offer me - and the > rest of the group - some advice? > Strongly advise you to contribute to their "ROTH" ira accounts up to $2,000 a year or each's annual income whichever is low. - -- $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Louis J. Schwarz, CFP,RFC TTY: 301 587 5996 Schwarz Financial Concepts FAX: 301 587 5997 814 Thayer Avenue, Suite 301 Voice: 800 735 2258 Silver Spring, MD 20910-4500 Email: louis@deafmoney.com - -
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