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A custodial Roth IRA is an individual retirement account designed for minors. The account belongs to the minor, but an adult opens and manages the account until they reach a specific age.
A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or custodian, who has a fiduciary obligation to the beneficiary.
A custodial account is a popular way for parents and guardians to invest for their children’s future. Accounts are easy to set up and manage, and the adult custodian can choose from a wide range ...
Here’s how custodial accounts work.
An individual retirement account [1] (IRA) in the United States is a form of pension [2] provided by many financial institutions that provides tax advantages for retirement savings.
The account owner of all IRAs chooses among the investment options allowed by the IRA custodian. For regular IRAs, these options typically include stocks , bonds , and mutual funds , but with a self-directed IRA, the term "self-directed" refers to the significantly broader range of alternative investments available to the account owner.
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