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Want to help a young person get started on a lifetime of investing? Hear all about the Jonathan Clements Getting Going on Savings Initiative on this podcast hosted by Rick Ferri. My fellow guests on the podcast were Morningstar’s Christine Benz and The Wall Street Journal’s Jason Zweig. Please give a listen—and please consider donating. One way to donate: Buy copies of The Best of Jonathan Clements, a collection of my Wall Street Journal columns. All royalties go toward the savings initiative.
Enjoyed the podcast with Rick Ferri, Christine Benz, Jason Zweig, and you on the ‘Getting Going on Savings’ initiative. My copy of your latest book arrived Saturday, and I’m looking forward to finding a quiet time each morning to read it.
Bogleheads On Investing Podcast | bogleheads
We gave this article below to our grandkids when we helped them contribute to their Roth IRA last year. The graphs tell the story better than I can.
https://money.usnews.com/investing/articles/charts-showing-why-you-should-invest-today
I started a Roth Custodial Account for my granddaughter when she began a very part time weekend job. The downside of such accounts is the possibility that she will withdraw the money when she gains control this November on her 18th birthday. I have already purchased a copy of the book. I intend it to accompany her gift of the match of her earnings that my husband and I will be contributing to her Roth.
There’s definitely a risk that young adults will withdraw Roth contributions, especially if they understand the tax rules. That’s why I never explained to my kids that one’s original Roth contributions could be withdrawn tax-free at any time for any reason….
Incidentally, with the savings initiative, one thing that the academics involved will be studying is how the recipients ihandle the money.
I like the idea of not telling them the rules. It’s probably better than my idea of threatening violence for early withdrawals. LOL.