Should I Open a Roth IRA for My Kids in 2023?

Should I Open a Roth IRA for My Kids in 2023?

Savings accounts are popular among kids, but giving them access to a Roth IRA (individual retirement account) could be the ultimate wealth builder. Anyone can contribute to a Roth IRA -- regardless of age -- as long as they have enough earned income to cover their annual contributions. If you're wondering if opening a Roth IRA for a child is a good move to make in 2023, here are a few things to consider.