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Turn A Summer Job Into A $120,660 Tax-Free Retirement Windfall

Source: https://investors.com/etfs-and-funds/personal-finance/roth-ira-for-kids-summer-job-tax-break-shield-retirement-fund/ - Jul 24, 2019

Summer jobs for teens teach the value of money and hard work. But they can also give a huge head start on summer job tax and retirement planning — with a Roth IRA for kids.

How so? If you and your child play your summer job tax cards right, you can easily create a $120,660 tax-shielded retirement fund from summer income. Recent tax reforms make this tax break available to even more teenagers with higher paying gigs.

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Category: General Business