“ANY CHILD, REGARDLESS OF AGE, CAN CONTRIBUTE TO A ROTH IRA PROVIDED THEY HAVE EARNED INCOME.”
— HTTPS://WWW.ROTHIRA.COM/ROTH-IRAS-FOR-KIDS

Fortune Cookie allows small business owners to pay their children, grandchildren, nieces, and nephews and deposit that earned income into a Roth IRA account, which can help save for retirement, purchase a first home, or pay for educational expenses. Many families set up 529 savings plans for their kids’ future college costs without knowing that a Roth IRA may be a better option. A 529 can only be used for educational expenses, whereas a Roth IRA can be used to save for retirement, education, or a home purchase. Although many financial companies can assist you in opening a custodial Roth IRA, we love how easy Fidelity makes the whole process.

A little now, with a lot more added over time, creates a fortune!

The younger the child is when the funds are added, the more compound interest grows. Use this calculator to see how your child can benefit from early contributions to a Roth IRA.

Compound Interest Calculator

Want to see how your child’s savings will grow over time? Use our handy compound interest calculator to learn more.

Questions?

We would love to help you to better understand how Fortune Cookie works.

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