It's summertime and classes are over for college students and high schoolers are wrapping up their exams. Many kids already have jobs for the summer, but if yours doesn’t yet, you might want to consider hiring them yourself. There are many good reasons to hire your child this summer:
Working now is good preparation for the real world
After just graduating college this past May, I look back at my time in high school, and there aren’t too many things I would do differently. But if I could go back and make a change, at the top of this list would certainly be taking more Advanced Placement (AP) courses and their exams back in high school.
Roth IRAs have become a great vehicle for managing your current and future tax situation. It can also be a helpful estate planning tool. But for many upper-middle income investors, contributing to a Roth IRA is not an option. Once your income exceeds $137,000 (single filers) or $203,000 (married filing jointly), you cannot contribute to a Roth IRA.