2 Cents RSS

An IRA actually stands for Individual Retirement Account, which is actually made for a minor and is held by parents or guardians until the kid turns 18. The ideal concept of parents for making IRA accounts is that their kid doesn’t suffer from the financial crisis and that they have some sort of financial stability as they grow up, hence can start learning and saving as soon as they grow up.IRA accounts are of two types basically -1. Traditional IRA - In traditional IRA, one is supposed to pay taxes while they withdraw the money from the account.2. Roth IRA...

As parents, we strive to instill good habits in our children in hoping they bring these lessons into adulthood. Most adults who eat well, get exercise and include good practices as part of their lives developed them over time, which dates back during their adolescent years. We should instill financial literacy and good financial habits throughout our children’s lives, and the younger we start, the better. Most adults are poor at managing their finances never reaped the benefits of learning the basics about money when they were young, and we manifest it during their adult life. Like good eating habits...