Want to Kickstart Your Child’s Retirement With a $1 Million TAX-FREE Account? Here’s How.

Most parents think about saving for their child’s college… but what about their retirement?

Here’s a million-dollar idea that can set your child up for life: Open a Roth IRA as soon as your child starts earning income.

💡 The Million Dollar Idea

The IRS allows minors with earned income to contribute to a Roth IRA. If your child works — babysitting, mowing lawns, tutoring, or even helping in your family business — they can start saving now.

The goal: Contribute consistently before they graduate high school.

📈 Why It Works

It’s all about the power of compound interest — earning interest on interest over decades.

• At an 8% average annual return, money invested by age 19 grows 40x by age 67.

• $2,500 invested = $100,000 at retirement.

• $25,000 invested = $1 MILLION tax-free!

Nearly 50 years of growth does the heavy lifting — your child just needs a head start.

🏦 Why Choose a Roth IRA?

Unlike traditional retirement accounts:

• Contributions are after-tax — meaning no upfront deduction.

• But all earnings grow and withdraw TAX-FREE at retirement (if rules are followed).

• Contributions (not earnings) can be withdrawn anytime, making it more flexible than most accounts.

🚀 Tips to Reach the $25K Goal

✅ Hire your child: If you own a business or side hustle, pay them for age-appropriate tasks like filing, cleaning, or basic admin.✅ Encourage side hustles: Babysitting, dog walking, tutoring, and yard work all count as earned income (keep good records!).✅ Leverage teen years: Ages 15–18 are prime time with summer jobs, internships, and part-time work.✅ Match contributions: Parents or grandparents can “match” savings to motivate consistent deposits.

🌱 Plant the Seed Early

Helping your child fund a Roth IRA isn’t just about dollars — it’s about teaching responsibility, savings habits, and the power of investing.

Start small, stay consistent, and watch the magic of compounding do the rest.

👉 One day, your child will thank you — when they retire a tax-free millionaire.