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April 19, 2021 4:32 AM newsfeedback@fool.com (Charlene Rhinehart, CPA)
Posted:
Updated:
April 19, 2021 10:24 AM
If your child earned income in 2020, there’s a special offer that you can take advantage of before the tax deadline. It’s called the Roth IRA (individual retirement account) and it could be key to helping your child become a millionaire before retirement.
Here’s a breakdown of how the Roth IRA works and how you can put your child on the fast track to retirement success by making a contribution on their behalf for 2020.
Image source: Getty Images.
Beat the tax deadline for Roth IRA contributions