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Son opened a Roth IRA

July 14th, 2015 at 04:15 pm

I'd been after DS#1&2 to open up a Roth IRA for a while. Today, my DS#2 told me he had a large amount of money to deposit. I mentioned that he should take some of that money to open a Roth IRA. He listed to me and with $300, he opened a Roth IRA. I suggested that he put at least a 1/4 of his monthly savings in his Roth. He agreed! I'm proud of him; he works an average of 30 hours and goes to school full-time in the evening. Mission will be completed once I get DS#1 to open a Roth.

I am aiming to have $15K in the EF once all of the renovations are done; I'm only $800 away from meeting the goal. Once I start working again in September, I will aim to save as much as we can to recuperate the money we've used to do the home repairs.

5 Responses to “Son opened a Roth IRA”

  1. frugaltexan75 Says:

    Good for your DS!

  2. rob62521 Says:

    Good advice and glad DS followed it!

  3. miz pat Says:

    Good for DS - Starting a Roth or any other retirement fund at this age, he will see huge increases over time for his retirement.

  4. Mrs. Frugalista Says:

    Miz Pat, I agree! Oh...and by the way the recipe you gave me when I requested something to do with a bag of hash brown has become a family favorite! Thanks!

  5. miz pat Says:

    Wow - I'm glad they enjoy the recipe. The nephews hate it, so I only make it for holiday potlucks.

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