Why Your Kid Needs a Roth IRA
If you hire your children or grandchildren, you can give them the opportunity to earn money and contribute to a Roth while you collect some tax benefits for yourself.

As a Kiplinger reader, I'm sure you're aware of the advantages of a Roth IRA compared with a traditional IRA. The main benefit, of course, is that under current law, qualified Roth IRA distributions aren't taxed, no matter how much income is reported on the owner's tax return.
Vita Nelson provides financial information centered around DRIP investing at www.drp.com and www.directinvesting.com. She is the editor and publisher of Moneypaper's Guide to Direct Investment Plans, Chairman of the Board of Temper of the Times Investor Service, Inc. (a DRIP enrollment service), and co-manager of the MP 63 Fund (DRIPX).

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

-
Could a Golden Visa Be Your Ticket to Retiring Abroad?
Trump and DOGE are weighing a U.S. "Gold Card" that would let the wealthy emigrate to the U.S. for a fee. But golden visas have been around for years worldwide. Here's how they work.
-
Running Out of Money in Retirement: Nine Steps to Reduce the Risk
Quit worrying about money and enjoy a carefree retirement. Sounds good, right? Well, if you follow these nine steps from a financial adviser, you could be on your way to that goal.
-
Running Out of Money in Retirement: Nine Steps to Reduce the Risk
Quit worrying about money and enjoy a carefree retirement. Sounds good, right? Well, if you follow these nine steps from a financial adviser, you could be on your way to that goal.
-
I'm a Financial Planner: Here Are Five Lesser-Known Ways to Avoid Estate Tax
The clock is ticking on the estate and gift tax provisions in the Tax Cuts and Jobs Act, so the sooner you act on removing assets from your estate, the better.
-
Is a Silent Wealth Killer Stalking Your Retirement?
Poor tax planning can drain your retirement of tens or even hundreds of thousands. Stop the bleeding with a laser focus on tax efficiency.
-
Put Time on Your Side With This Simple Retirement Strategy
A financial professional recommends thinking in terms of three financial stages — active years, slower-paced years and later years — assigning each one a unique bucket of investments.
-
Five Opportunities if You're in the 2% Club in Retirement
If you're among the 2% of the population with both a pension and $1 million or more saved, you're in a unique yet complex position as you approach retirement.
-
I'm an Insurance Expert: This Is How You Get the Right Insurance Coverage at the Right Price
First, you have to know what you want and ask the right questions of the right professional. This insurance pro explains exactly how to do that.
-
Four Tips for Mastering a Financial Security Mindset
This financial professional's mom helped him learn that financial security is more than making money — it's about cultivating a mindset that will help you stick to an investment plan even when times get tough.
-
Lessons to Be Learned From a $1 Billion Divorce
An estate planning attorney notes that an oil executive’s billion-dollar divorce could have turned out very differently if the couple had a premarital agreement and the executive had used asset protection trusts.