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Should I Open a Roth IRA for My Kids in 2023?

TheMotleyFool

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Should I Open a Roth IRA for My Kids in 2023?: https://g.foolcdn.com/editorial/images/717481/parent-teaching-child-about-money.jpg

Savings accounts are popular among kids, but giving them access to a Roth IRA (individual retirement account) could be the ultimate wealth builder. Anyone can contribute to a Roth IRA -- regardless of age -- as long as they have enough earned income to cover their annual contributions.

If you're wondering if opening a Roth IRA for a child is a good move to make in 2023, here are a few things to consider.

Image source: Getty Images.

Source Fool.com

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