Getting a Roth IRA started for my grandchildren. Minimum investment?
106523
Your Grandchildren can only invest earned income in a Roth IRA. If they have a paper route or some other job, they can contribute to the IRA. Technically, you can't put money into an IRA for them. What you can do to encourage them to invest the money they are earning is to give them cash gifts equal to the amount they invest.
1162875
http://www.tradingresources.org/ira-401K-investing.htm\n\nshould be able to help answer your question.\n\nMoni
1154996
As long as you are claiming the kids as dependents there is no problem using HSA funds for your kids medical expenses.  Make sure you keep track of the withdrawals and save the receipts just in case Uncle Sam wants to see them.  The easiest thing to do is use your HSA debit card.  Don't forget you can use those funds for other things like over the counter meds, dentists, orthodontist.  The IRS list of "qualified medical expenses" is pretty long.\n\nYou also mentioned that the kids are on your wife's group sponsored plan.  Many employers don't contribute to the family members premiums, and group insurance rates for kids can be pretty high.  You might want to look into putting your kids on an individual plan.  \n\nI do this frequently with my clients in Florida and the savings can be as much as $200-$300 per month.
120424
Try the following: 1)Get the actual amounts you are eligible for at ages 62, 65 and 70 from the SSA.  2) Assume your remaining life span. Since you do not appear to need the money to live, base your decision on the maximum SS $ you will receive based on your assumed age at death.  For example if you are entitled to $1,000/month at age 62, or $1,200 at age 65 or $1,700 at age 70 and you assume you will live until 85 then the math would suggest if you began to draw at 62 and lived until 85 you would draw a total of $276,000; $288,000 if beginning at age 65 and $306,000 if you waited until you were 70. Ofcourse these calculations do not include the added cash you would accrue if part or all of the money were invested as you aged.  Remember the RULE OF 72. What percent do I need to double my money???  Divide 72 by the number of years and the answer is the percent needed.  For example to double your money in 12 years you would need 6% compounded.  (12 times 6 = 72).  It also works in reverse - if I can invest at 9% APR and compound the interest it would take 8 years to double my money. (9 times 8 = 72).  Teach this rule to your children and grandchildren and they will easily see the value in saving....and they have the best advantage of all.....TIME
1096875
That website is a total scam. $1 for just first month premium and then it is adjusted to your current age after that. If you want to do the right thing, you would keep investments separate from insurance.\n\nTwo ways to invest for your children:\n1) Open UGMA/UTMA account at a financial institution\n2) If investment is to be used for college, then open a 529 plan or Coverdell plan.\n\nIf you are looking to get insurance for your children, you would buy a 10, 15, or 20 year term with just $10,000 in coverage. After that, they are old enough to buy their own life insurance.
184676
most financial advisors will tell you to fund your retirement before childs education. i strongly agree. you don't want to be eating dog food while your kid goes to college, do you?
341439
You can beginning making withdrawals from an IRA without penalty at age 59 1/2 (you still have to pay regular income taxes, unless it's a Roth IRA).  See the following government publication:\n\nwww.irs.gov/pub/irs-pdf/p590.pdf
196319
Save money. When you get a couple of hundred open a Roth IRA and start investing in an index fund. Do this at your local bank (easy, cheap, friendly) . . . yeah they get paid out of your funds and later you'll roll over the IRA to Fidelity, Vanguard, etc . . . but for now JUST START the easiest way possible.\n\nPS: Assuming you are young and don't get paid a lot REMEMBER that it doesn't get easier to start saving once you have a house, two cars, a wife, and kids. WORSE, you are older and have less time for your investment to grow. START NOW!
148458
Many mutual fund families will waive their intial minimum requirement if yu set up an automatic investment plan, usually as low as $25-$50 per month. It is a good way to systematically save. Try American Funds, I believe they have very low minimums on this kind of approach.
1162037
According to my stock broker the best thing to invest in for your childrens future is a Roth IRA.
28144
Does your employer have a 401k?  Make sure to contribute enough into it that you are getting the full match.  Then start a Roth IRA.
485173
0% forever if the money is in a Roth IRA.\n\n0% if the money is in a Traditional IRA - until you are required to withdraw the money at age 70 or so and claim the gain as regular income (not capital gains)\n\n15% if held for a year or more.\n\n35% (approximately, depending on tax bracket) if held for less than a year.
1011033
There isn't one. If your son is an infant, you have a minimum 16 year time horizon before you would need the money. A savings bond will simply keep pace with inflation and will not grow. If you're a conservative investor, you should consider putting $25+ per month into a moderate allocation fund like Vanguard Wellington. It's a conservative mix of bonds and stocks that's more likely to yield your child something more meaningful down the road.
617262
The first thing you need to do is read.  Ben Graham's the intelligent investor is a good place to start and then look at books on Warren Buffets methods.  Dont do momentum investing or day trading its to risky and the commisions will kill your returns.  The best way to go is value investing all the way.  I usually look intially for companies with 15 percent return on equity for at least 5 years and a p/e ration of between 5 and 15.  Also look for a history of positive earnings.  Thats real basic and then you will need to learn to read income statements, balance sheets, and understand cash flow and stuff but thats someplace to start.\nIf you dont have an ira you should get one a roth ira is best if you qualify.  I recommend putting your ira in mutual funds and vanguard is by far the best company.  Their expense ratios are way lower than other companies and this will pay off big in the long run.  Well, I hope that helps.  Good luck.
991333
Please talk to your 401K/IRA administator.  The rules are complex and you shouldn't trust the information you get from a bunch of strangers on the internet.  Good luck!
453308
I just spoke to the principal of an international school about this last week.  His school has worked out a Roth with an office that is in a U.S. territory nearby.  The tax is prepaid so there's no tax or penalty paid at retirement.  Email a investor in the Mainland to see what they can offer.  Some offices are just ignorant of the law, as most folks are for most things like voting, taxes, shipping things to people who are abroad.  You may want to email an investment group someplace like the Virgin Islands, Guam, Puerto Rico...  They're more familiar with policies and retirement programs for Americans living outside the Mainland.
918168
If you live in the U S, you might want to go to the book store and buy "Investing for Dummies".  It will be a big benefit in giving you a head start.  \n\nOne thing that many beginning investors due is to buy shares in one or more mutual funds.  By doing that there is less risk, of making a really bad investment and loosing a lot of money.  Many mutual funds however due have a period of time 30 to 90 days in which they will charge you a redemption fee if you sell the shares. \n\nMany successful investors buy shares with the intention of holding them for a very long period of time.  That way if they have purchased shares in growing companies, the value of their shares grows with the companies and continues to grow without having to pay taxes to the government in the mean time.  \n\nMutual funds unfortunately are required by law to distribute their realized gains annually on which one does have to pay taxes.  But there is a newer form of fund now available called an index fund that has very little realized gains and therefore little in the way of taxes.  \n\nThe minimum amout somewhat varies.  Some brokers will let you open an account with as little as $500.  And some mutual funds have a minimum initial investment of about $500.  Many however are in the $2000 to $2500 range and some even more. \n\nThe kind of shares I would recommend would be shares in companies that have an established record over at least 10 years and that are selling at a reasonable price relative to their earnings and that pay a dividend.