Summer Wages Turn into Retirement Savings

Summer is now winding down and students – ready or not – are heading back to school. During their school break, many of them have learned important skills from a summer job. If your child or grandchild earned wages, you can teach them how to save some of that hard-earned cash in their own retirement account – and you can contribute to it as well.

The earlier that funds are deposited into a Roth IRA, the more potential for tax-free earnings to accumulate. There is no minimum age for establishing an IRA, though some custodians may have policies restricting IRAs for minors. Anyone can contribute money up to the child’s annual limit. Should a financial need arise, the young account owner can access the funds before retirement.

See our website for a full list of services for your family, including Retirement Planning. With Estate and Generational Planning, we help you consider not only the assets you may leave your children and grandchildren, but also the example you set for them today.

Get started by calling us at 706-650-9900.


For more information on Roth IRAs for minors, visit