Let your child earn a wage now that can then be invested in a Roth IRA or conventional IRA and you’ll set them on the path to a retirement free from financial concerns.
As the originator of the developing field of ‘self-funded employment’ ™, Remington Regent empowers you, the parent, to provide the funding power that will allow your child to earn an income in this, and any future, calendar year. Most families look to the annual cap of a Roth IRA/conventional IRA, currently $6000, as a guide for what they will contribute.
As an example, a family can decide to contribute the maximum to a Roth IRA for their child of $6000 which they would deposit with Remington Regent. Upon the clearance of those funds Remington Regent would send the first of a series of fillable PDF forms to the child’s (or parent’s) email account, that information having already been provided by the parent, which would then need to be completed by the child and returned to Remington Regent. Upon the successful completion and return of each form in the series the child would then be sent a payment for that form, between $200 - $500 per document as determined by the child/parent. Over the course of the year the child would be expected to complete the balance of the forms in the series so that they are entitled to the complete amount of funds previously deposited by the family.
The child would be working as an independent contractor and, while not entitled to any employee benefits, would be earning ‘wages’, paid compensation for work done. At the end of each calendar year, the child would receive a 1099 form outlining the wages earned for that year. As wages are earned and paid, the family can invest these wages as they see fit, typically invested in a Roth IRA or conventional IRA.