Roth accounts for grandchildren
I put $500 per year in my grandkids Roth accounts. What is the best investment to put it in? They are all in their 20’s.
Terry Says
That’s a lovely idea. I presume all of them are working and earning at least that amount — since you cannot contribute to a Roth (either for yourself or on behalf of someone else) unless they have “earned income.”
And since they are young, I’d suggest you just invest it in the S&P 500 stock index fund.
And maybe create an incentive: Tell them that next year you won’t contribute unless they ALSO contribute at least $500!!
