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To SKI or Not to SKI (Spend Kids' Inheritance)?
EP Wealth’s Shari Greco Reiches explores what it means to SKI (spend kids’ inheritance), and how to strike the right balance between living for today...
Help your child or grandchild build smart financial habits early with a Roth IRA. Discover how this meaningful gift can grow over time—and spark lifelong money conversations.
A Gift that Can Grow with Your Children
Did your child or grandchild earn their first paycheck last year? Maybe they scooped ice cream, led summer camp games, or landed a virtual internship. It’s an exciting milestone— and chances are, they were more focused on spending than saving.
This could be the perfect time to help them start building smart financial habits—like funding a Roth IRA in their name.
For the 2025 tax year, you can contribute to their Roth IRA—up to the amount they earn this year, with a maximum of $7,000. Contributions can be made any time during the year, up until the tax filing deadline in April 2026. As always, check with your tax advisor to confirm eligibility and contribution limits based on their income.
If they’re under 18, you can still help by opening a Custodial Roth IRA. And while they may not be jumping for joy about a retirement account, that doesn’t mean the gift isn’t meaningful.
I did this for my daughters when they had their first jobs. Their reaction? Usually something like, “Thanks, Mom. What’s for dinner?” But it opened the door to conversations about saving, investing, and the value of patience—lessons that grow just like the money in their accounts.
Now that they’re older and working full-time, they’ve started to see value. “Mom, that Roth IRA was a great idea,” they’ll say. Hearing that? Priceless.
I may not be around when they retire (though I hope I am), but I know they’ll look back with gratitude. It’s a gift that can grow with them—and one they’ll hopefully value more with each passing year.
We're here to help. Want to learn more? Connect with a financial advisor to see how a tailored approach can support your financial future.
DISCLOSURES
- EP Wealth Advisors, LLC. is registered as an investment advisor with the SEC and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the advisor has attained a particular level of skill or ability.
- Request an appointment with an EP Wealth Advisor when you have a minimum of $500,000 in investable assets – which includes qualified retirement plans (IRA, Roth IRA, 401(k), taxable brokerage, cash (savings / checking) and CDs. Investable assets do not include your home, vehicles, or collectibles.
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- Laws vary by state. The information presented herein is intended to be general in nature and may not apply to your state of domicile. Please consult local legal counsel to determine the best practices for your state.
- Please consult with a CPA, tax professional, and/or attorney regarding your specific situation before implementing any of the strategies referenced directly or indirectly herein.
- Information presented is general in nature and should not be viewed as a comprehensive analysis of the topics discussed. It is intended to serve as a tool containing general information that should assist you in the development of subsequent discussions. Content does not involve the rendering of personalized investment advice nor is it intended to supplement professional individualized advice.
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