Your child may not have access to employer-sponsored benefits like a 401(k) plan or an employee stock purchase plan (ESPP) yet, but that doesn't mean they can't start planning for their future. If your child is working a paid summer internship or making money during the year, you can consider opening a Roth IRA for them. Anyone, regardless of age, can contribute money to a Roth IRA as long as they meet the requirements.

We've compiled a few steps you can take this year to set your child up for a millionaire retirement.

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Source Fool.com