So this year, as a way to make your teen a millionaire, start a Roth IRA account for them. It allows the teen to start saving for tax-free income and learn the value from it, and It develops a good habit for savings and investing sorely lacking in most teens and adults.
Wealth Virtues Journal: December 2, 2012
Wealth Virtues Journal: December 23, 2011
Anyone can have tax-free retirement income which can also be passed to your heirs also tax free!
Wealth Virtues Journal: September 10, 2010
There are many circumstances in life where we may not be fortunate enough to have started serious retirement investing until late in life. Never fear. Beginning to invest, or increasing your investments at age 50 may bring some unexpected benefits.
Wealth Virtues Journal: December 30, 2009
Do you think millions of dollars are not possible for you? HA I say. See how anyone with discipline can get there and enjoy it as well. The book ‘Wealth Virtues’ delves into this in greater detail.
Wealth Virtues Journal: November 9, 2009
An important consideration for your savings should be for your or your children’s education. Some people look to handle this using a 529 savings plan. If you decide to finance your children’s education this way, don’t sacrifice saving for your retirement at the expense of funding a 529 plan. You can take a loan out for education; you cannot take a loan out for retirement!