So this video may not apply to most of us that are older but it may be helpful for us to teach our kids or grandkids about how to save since they have the most valuable asset that is time.
So this video may not apply to most of us that are older but it may be helpful for us to teach our kids or grandkids about how to save since they have the most valuable asset that is time.
Last edited by NitroZ7; 04-26-2025 at 03:24 PM.
Good Video
For those who started working in 1980 to 1995 era, I think the conventional wisdom was defer tax. That simple world all started to change in year 2000 with Tax Changes and was even extended by cuts in 2017. Most of us were busy and did not really think about long term implications at that time.
The best way I could think of to get young people experienced and started is to help them create and contribute to the ROTH IRA as soon as they have income. Something that is new is that unused college 529 plan money can be used to fund them if a whole bunch of qualifications are met. It is great experience right now when a child calls and says why is my IRA down in value?? Makes a great opening to talk about long term buy and hold strategies and the wild market swings along the road.
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