Are You Paying Your Kids for Farm Work? Consider a Roth IRA
As summer approaches, you are likely making plans for seasonal help. If that team includes children or grandchildren, you might want to consider setting up a custodial Roth Individual Retirement Accounts (IRAs) for them. That young adult could sock away some serious cash in the next decade or three.
A Roth IRA can be similar to a savings account or 529 account, but it offers more flexibility and tax advantages, says Jessica Groskopf, agricultural economist and University of Nebraska Extension educator.
Listen to a “Nebraska FARMcast” with Groskopf:
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By SARA SCHAFER
April 21, 2022