Can Teens Invest Their Summer Job Earnings in a Roth IRA?
Landing a summer job is an exciting milestone for any teenager, and receiving that first paycheck is even more gratifying. While the temptation to splurge on the latest trends with this money may be strong -- at least that was the case back in my day -- teens might be better off considering their future financial security.
Setting aside part of their earnings in a Roth IRA, for example, can teach valuable lessons about saving and investing, potentially setting them on a path to a millionaire retirement. If you're looking to give your teen a leg up in life, introducing them to the benefits of a Roth IRA could be the perfect gift.
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Source Fool.com
