Benefits of opening a Roth IRA for kids

Adyson Hammock  reporter3.riverbendnews@gmail.com  It's never too early to learn the importance of saving for retirement. Parents might consider opening a Roth IRA for their children if they have a summer or after-school job. This approach can offer teens practical insight into retirement accounts and the benefits of early savings.  Young workers often owe little to no taxes on their summer job income, making Roth IRA contributions—made with post-tax dollars—potentially free from federal taxes. This can significantly benefit young savers over time, as each tax-free dollar saved can be invested for growth.  Here are a few things to know about opening a Roth IRA for kids, per Schwa