Can I make Roth IRA contributions for children under age 3?

June 15, 2005

Subject:  Toddlers, Parents & Grandparents: Roth IRA Contributions
From:  Bob
Date:  Sun, 24 Apr 2005

I read your suggestion of making Roth contributions for children. How can this be done for children under age 3?

Answer

Date:  Mon, 06 June 2005

Hello Bob,

The children have to earn the income, so this strategy becomes more practical as they become older.

Sometimes there are opportunities in family businesses for small children to be compensated for participating in advertising, like television commercials for auto dealerships. There is also the "child talent" situation for other commercial advertisements, movies and television shows.

Good luck!
Mike Gray

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