How To Contribute To My Child’s Roth IRA Using a 529 Plan?

What We Learned in the Markets por Whitaker-Myers Wealth Managers, LTD.

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Financial Advisor John-Mark Young of @whitaker-myerswealthmanage2043 answers the question from David in Huntington, West Virginia, who asks, “I’d like to make a contribution to my child’s Roth IRA but he’s only six. I just ran some numbers on what a small contribution could look like, over the next sixty years and the compound interest is incredible, even on just a small amount of money. Based on my research, I can’t contribute to a Roth IRA for him because he doesn’t a have any income at his young age. Any way I can work around this?”

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Whitaker-Myers Wealth ManagersJohn-Mark Young529Roth IRA529 plan