6 ms·
Not OP, but I think they are referring to the fact that you can get tax advantaged accounts instead of a standard savings account. Not to mention the interest r
by lostaccount 2mo ago
Not OP, but I think they are referring to the fact that you can get tax advantaged accounts instead of a standard savings account. Not to mention the interest rate on those accounts is basically a rounding error.
- what 2mo agoA child can not get a tax advantaged account. You need earned income to contribute to those.
- spacefan1984 2mo agoIf you track chores you can actually set up your kids with a Roth 401k. For example, this company takes care of it for you https://www.halfmore.co/ https://www.halfmore.co/
- what 2mo agoNo. You can not consider payment for chores as earned income.