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Hey Mark Kohler here want to talk about setting up a Roth for your children. Is that even possible? Can you do a Roth for your children and save for the future and get a pretty cool tax strategy out of it? Absolutely Lets run through the rules Okay, I got my whiteboard here because this makes much more sense visually if we throw it on a whiteboard Rule number one kids cannot have a Roth unless they have earned income They have to have earned income. You cant give them money to open a Roth you cant Have them invest in stock bonds or mutual funds and get passive income and open a Roth they have to have earned income And and but thats okay We can do that now any child under age five or six unless theyre a superstar for some modeling scenario Or an acting theyre not going to have earned income But I am a firm believer that kids under age 18 can start working in a business and if youre an entrepreneur Even with rental property, lets get the kids involved in basic Rental property mai
