I'm thinking about my still-toddler boy, and trying to figure out how to help him get an income which would allow him to start contributing to a Roth IRA. I am aware that the value of such an IRA could negatively impact his qualification for financial aid for college.
Do you think this is a good focus for his finances at such a young age and if so, what creative ways can he obtain income which meets the qualifications for Roth contributions? My hope is that such long term tax-free compounding of gains will be a huge help for his retirement nest egg.