our daughter is 12, and has about 1,500$ in a 'mom account' - her money that I manage virtually for her on an excel spreadsheet and 'earns' interest 10% / year
I'd like soon to move this money to a real account.
She now earns some pocket money from babysitting and also does some paid work in our family business, and I thought this is a good opportunity for opening some investment account for her.
I read that kids can have Roth IRA if they earn money.
Would this be better than other types of custodial accounts that are out there?
