Roth IRA

“Two ways to help grandchildren achieve financial security are to fund 529 plans for their education and to fund Roth IRA accounts,” said Larry Luxenberg, a certified financial planner with Lexington Avenue Capital Management.

“If there is any money left over in the plan, the student can roll the money over to a Roth IRA, jump-starting their retirement planning.”

A custodial Roth IRA is a Roth in a minor’s name, managed by an adult until the child reaches majority.

We have $2.8 million invested in IRAs, a Roth IRA and a trust account.

I have approximately $565,000 in an IRA, $250,000 in a Roth IRA, $435,000 in a brokerage account, and $189,000 in a 4.3% high-yield savings account.