The Best Thing Teens Can Do With a Summer Paycheck #rothira

Most teenagers spend every dollar they earn. A few invest it, and the difference decades later is remarkable.

In this video, Nathan Gilbert of Meridian Financial Partners makes the case for opening a custodial Roth IRA for your working teen or grandchild, even if they are not exactly excited about the idea. He explains how earned income from a summer job makes teens eligible to contribute, why a parent or grandparent must serve as custodian for anyone under 18, and why the gift of tax-free compounding is one of the most valuable financial lessons you can pass on. Nathan shares a personal story about his dad pushing him to save and why, looking back, he is glad he listened.