As soon as my children had jobs, I painlessly withheld from their paychecks by letting the IRS do it (defaulting their W4 as if they would work full time). Then I deposited their refund in an IRA. I also offered a “company match” by doubling the deposit. By the time they graduated college, they could already see a real illustration of the importance of compounding and of taking advantage of the company match.
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As soon as my children had jobs, I painlessly withheld from their paychecks by letting the IRS do it (defaulting their W4 as if they would work full time). Then I deposited their refund in an IRA. I also offered a “company match” by doubling the deposit. By the time they graduated college, they could already see a real illustration of the importance of compounding and of taking advantage of the company match.
Post: Starting Early
Link to comment from December 11, 2021