Jennifer Walsh Jennifer Walsh · October 10, 2026
Here is the mistake I see mentioned constantly in every parenting-and-money forum I follow: someone opens a custodial Roth IRA for their kid, feels great about it, and then does absolutely nothing with the money inside. It just sits there — in the brokerage’s default settlement fund or money market account — earning somewhere between … Read more
Jennifer Walsh · October 10, 2026
A question I see asked constantly in investing communities goes something like this: “Should I open a custodial account or a Roth IRA for my kid?” It sounds simple. However, the answer depends entirely on which of three very different accounts you are actually comparing — and most of the confusion comes from the fact … Read more
Jennifer Walsh · July 15, 2026
These two Fidelity products get confused constantly, and it’s an easy mix-up — both are aimed at minors, both are opened by a parent, and both have “Fidelity” and some version of “for kids” in the marketing. But they do genuinely different jobs, and a lot of parents end up with the wrong one for … Read more
Jennifer Walsh · July 15, 2026
Parents ask a version of this question constantly in the personal finance communities I follow: “If we contribute $X a year to our kid’s Roth IRA, what will that actually be worth by the time they retire?” It’s a fair question — the numbers involved are large enough, and the time horizon long enough, that … Read more
Jennifer Walsh · July 15, 2026
Most of what’s written about Schwab and Roth IRAs on this site is aimed at parents opening a custodial account for a minor. This review is different — it’s for adults opening their own Roth IRA at Schwab, whether that’s a first-time investor, someone consolidating accounts, or a parent who just helped their kid open … Read more
Jennifer Walsh · July 15, 2026
“Should we just put the money in a high-yield savings account instead?” I get this question from parents who’ve done some homework, noticed savings APYs above 4%, and started wondering whether a custodial Roth IRA is worth the extra paperwork. It’s a reasonable question — and the honest answer is that these two accounts aren’t … Read more
Jennifer Walsh · July 4, 2026
Most of what’s written about Roth IRAs for kids is aimed at parents of young children being paid through a family business. Teenagers are a different — and honestly easier — case. A 15-, 16-, or 17-year-old with a W-2 from a lifeguarding job, a grocery store, or a summer camp has unambiguous earned income, … Read more
Jennifer Walsh · July 4, 2026
You opened a custodial Roth IRA when your child was young, contributed faithfully for years, and now there’s a milestone approaching: their 18th birthday. Parents ask me some version of this question constantly — “what actually happens to the account when my kid turns 18? Does the money just… become theirs?” The short answer: the … Read more
Jennifer Walsh · June 28, 2026
Single filers: You can contribute the full $7,000 if your MAGI (Modified Adjusted Gross Income) is below $150,000. The ability to contribute phases out between $150,000 and $165,000. Above $165,000, you cannot contribute directly at all. Married filing jointly: Full contribution below $236,000, phases out between $236,000 and $246,000, no direct contribution above $246,000. The … Read more
Jennifer Walsh · June 18, 2026
One of the most common questions I get is some version of this: “My kid earns money doing things around the house — can I pay them for that and then contribute to a Roth IRA for them?” It’s a genuinely important question, because the Roth IRA is an extraordinary wealth-building vehicle for young people, … Read more