Roth IRA # 2
April 16, 2018
I’m Miriam Neff-with STARTING OVER FINANCIALLY, and I’m Valerie Neff Hogan, and we’re here to talk about money
M Currently we have legal tools available to help Christ followers direct their money. One is the Roth IRA II Corinthians 12: 14 says that children should not have to save up for their parents, but parents for their children.
V As soon as an individual has some earned income, even a teenager, you can gift him a Roth IRA and put in an amount determined by his income. Imagine if you gift $5,500.00. Investing in reasonable equities, that will grow several fold when that teen becomes 59 1/2 and begin withdrawals. Benefit, big tax savings. Money to family, not government.
M It’s a learning opportunity. You start that individual paying attention to their portfolio and planning ahead.