So my wife and I are going to be having our first child any day now. I heard that you could start getting MT preference points for kids as soon as they are born, so I looked into it. Sounds like they recently changed the law and you can no longer do this. Bummer.
On one website I was reading, somebody said that if you really want to help your kid out, get them a Roth 401k when they are an infant and deposit $5,000 into it - supposedly it will be a million when they are ready to retire. Defiantly have to look into that one more, but from the quick bit of research I did it doesn't sound like you can put anything into their 401k until they are of working age.
All this got me thinking, is there anything else that would be good to do for them while they are very young? I'd be interested to see what you all have done.
Thanks!
On one website I was reading, somebody said that if you really want to help your kid out, get them a Roth 401k when they are an infant and deposit $5,000 into it - supposedly it will be a million when they are ready to retire. Defiantly have to look into that one more, but from the quick bit of research I did it doesn't sound like you can put anything into their 401k until they are of working age.
All this got me thinking, is there anything else that would be good to do for them while they are very young? I'd be interested to see what you all have done.
Thanks!