The sooner you start saving for retirement the sooner you’ll actually be able to retire. You can open your Roth IRA even before age 21 with the income earned through Remington Regent. Time and growth are the two main factors that will allow your retirement account to increase over your '“extended” working life so take advantage of the opportunity.

By beginning to invest in a Roth IRA at an early age, today’s teens can become tomorrow’s millionaires. A Roth IRA allows young workers to turn even small contributions into a sizable tax-free nest egg in retirement. Money goes into the account after taxes have been paid, but thereafter it grows free of taxes. And the Roth offers flexibility: Contributions can be withdrawn at any time without penalty or taxes.

If your child has earned income, or is paid as an employee, it opens huge tax planning opportunities. First of all, many teenagers don't owe taxes on earned income under certain limits. Minors who can be claimed as dependent don't need to file tax returns if their earned income is less than the individual standard deduction. The sooner your child starts working the longer you can take advantage of the break.