Author Topic: Need to find a way to hire my toddler son  (Read 823 times)

Spondulix

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Need to find a way to hire my toddler son
« on: June 13, 2018, 07:08:48 PM »
I've wanted to start a Roth IRA for my son since he was born. Problem is I haven't found a way yet for him to be employed (hah). Any ideas? He's 19 months old. I figure even a couple hundred bucks a year would go a long way for him as an adult.

I live in Los Angeles so I do keep an eye out for entertainment gigs that would be easy/fun for him (but I have no interest in getting into professional baby modeling or acting).

Miss Piggy

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Re: Need to find a way to hire my toddler son
« Reply #1 on: June 13, 2018, 08:17:19 PM »
I don't know a lot about them as I don't have children, but how about a 529 account instead for now?

Frankies Girl

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Re: Need to find a way to hire my toddler son
« Reply #2 on: June 13, 2018, 08:34:08 PM »
Discussed at length here:
https://forum.mrmoneymustache.com/taxes/i-want-to-hire-my-3-year-old-so-she-has-earnings-for-an-ira

Short answer: not gonna fly without things like modeling/acting for a child below the age of 8 years, and likely to pop all kinds of red flags if you have hundreds/thousands of dollars in earned income before teen age without it being acting/modeling.

Spondulix

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Re: Need to find a way to hire my toddler son
« Reply #3 on: June 13, 2018, 10:51:05 PM »
Thank you @Frankies Girl! I figured this topic probably came up before (I only found ones about older kids). Interesting idea in there about starting a brokerage.