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Trivial for a lot of people, sure, but imagine the difference between not knowing what an investment account is and knowing that you've got $250 in one that you
by piker 11mo ago
Trivial for a lot of people, sure, but imagine the difference between not knowing what an investment account is and knowing that you've got $250 in one that you can contribute more to.
- codeddesign 11mo agoSo..a 401k At least the 401k is pre-tax. This on the other hand is taxed on both ends. Maybe I am missing something, but I really don’t see the upside.
- piker 11mo agoYes. You know, like the kind of 401k a seven year old has.
- deleted 11mo ago[deleted]
- dmoy 11mo agoIt's more like a 529, but can also be used for first home purchase as a qualified withdrawal. It's also tax-free growth (not that the average <18 y/o would incur any tax on $250-$1250 of principle)