When my son (soon to be a high school senior) began working at a summer job a couple of years ago, I offered to match half of his take-home pay with a Roth IRA contribution, if he would put half of his summer pay into the Roth. He has done this the last 2 years; this summer will be the 3rd. I suggested investment options and he has opted to put it all in the vanguard total stock market index (mutual fund not ETF). He is learning, the Roth is doing well so far given market strengthening since the summer/fall of 2022, and the 50/50 approach means he still has some pocket money to use as he will. So far he has largely saved that, too; will be interesting to see how this plays out over time. We have a second son (rising high school freshman) who will start working next summer and I anticipate taking the same 50 percent Roth match approach with him. Not sure when I will stop this, and definitely will try to work it so that the amount I match each kid ultimately equals out…
Statistics: Posted by rationalactor — Thu Aug 01, 2024 12:28 pm — Replies 8 — Views 541
