It’s no doubt that Social Security will face changes over the next several years, and no exactly for the best. There’s just no avoiding it. However, there are still ways to set your children for success when they reach their time of retirement.
This article explains why setting up a Child IRA now would put that child in a better position. It is said by Chris Carosa, president of Stanton Asset Management, that putting $1,000 in an IRA for your child each year until the child is 19 can grow to $2.2 million by the child’s 70th birthday.
Readers, we invite you to post your ideas and tips on this topic! What are some other ways that can set your child/grandchild up for retirement success?