The Kid's ROTH IRA Handbook: Securing Tax-Free Wealth From a Child's First Paycheck or Money Answers for Employed Children, Their Parents, the Self-Employed and Entrepreneurs (Paperback)

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Editorial Reviews

Product Description

This book is to be used as a starting point for children and parents. The focus is on the unmarried dependent child (with no dependents of their own) who has a yearly income that ranges from $1.00 to the amount of the single standard deduction allowed by the IRS for the current tax year ($5,350 in 2007). This book can also provide limited guidance for children with incomes outside of this range, introducing them to basic topics.

Major Topics include:
1) Money Management: Appreciate the benefits of a Roth IRA
2) Career Skills: Identify different types of child employment
3) New Ideas: Discover different ways parents can employ their children
4) Special Details: Learn how parents can issue Forms W-2 for their child
5) Introduction to Taxes: Basic tax concepts for children with low earned income
6) Powerful Knowledge: Understand rules for children to contribute to a Roth IRA.

About the Author

Tracy Foote has an accounting and finance background in the US Air Force. Today she is both an author and a self-employed parent. She specializes in helping children qualify for earned income to invest in a Roth IRA. She wrote this book to consolidate and share information to assist other employed children and their parents.

Product Details

• Reading level: Young Adult
  
• Paperback: 196 pages
• Publisher: TracyTrends; 1st edition (January 1, 2008)
• Language: English
• ISBN-10: 0970822693
• ISBN-13: 978-0970822697
• Product Dimensions: 8.9 x 5.9 x 0.6 inches
• Shipping Weight: 8.8 ounces (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (6 customer reviews)
• Amazon.com Sales Rank: #517,138 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

4 of 4 people found the following review helpful:

5.0 out of 5 stars Excellent book for people with working children, January 22, 2008

By	Malia Russell "www.homemaking911.com" (Louisville, KY United States) - See all my reviews (REAL NAME)

I had the pleasure of reviewing this book and I think it is a great resource.

This book was chock FULL of information to help parents and their children understand the ROTH IRA and how it can help your child secure tax-free wealth from their very first paycheck. I wish I had this book three years ago when my daughter first entered the world of working. She finally opened her ROTH IRA last fall. This book is user friendly. It has the technical jargon you may need, but has it presented in a very simple way. I think your teen could pick this book up and read it. If given to a homeschool teen, this would count toward a consumer math credit. It is quite thorough. As a former tax consultant I am financially savvy. This book is a winner! I HIGHLY recommend it.
Malia Russell
[...]

3 of 3 people found the following review helpful:

5.0 out of 5 stars Excellent Review, January 31, 2008

By	Art Patino "Certified College Planning Specia... (San Antonio, Tx) - See all my reviews (REAL NAME)

After reading "The Kid's ROTH IRA Handbook", I came away with a good feeling that kid's and parents can have hope for the future. Once we get the current generation of kids to understand saving instead of consumption, the problem is solved. This book explains a difficult concept in easy terms "Great job,Tracy"
Art Patino ,CCPS.

2 of 2 people found the following review helpful:

5.0 out of 5 stars A Must Read for ALL PARENTS!!, March 7, 2008

By	Jodie Atkinson "beautifulawake" (Indiana) - See all my reviews

Teaching children about saving money is critical for their success as adults. This book provides a step-by-step guide on how to teach your children about investing and specifically Roth IRAs. As an adult who had little knowledge on this subject, I found the book easy to understand without it being condescending. My children have both read this book (16 and 10) and were able to understand it completely. Even though they were resistant at first, both of my girls are now eagerly working on saving enough money to start their own Roth IRAs. This is a well thought out book and should be required reading for all parents and children.