Quote:
Originally Posted by Toxigen
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As soon as kids are out of school and earning a real income they should be automatically budgeting away $6k / year for a Roth IRA. They can just setup weekly $115 automatic withdrawals and budget like they never made that money to begin with.
Its so easy yet so few are doing it. Shitty parenting.
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Actually it should be 18% combined into an IRA if they earn enough to max the Roth: decreases tax liability as an added bonus, especially if you bracket down while doing so.
The Roth contributions (+10k in gains) can be withdrawn for a first time home loan; the IRA is directly for retirement