According to the IRS, in 2018 more than 34 million taxpayers in their 20s were eligible to contribute to an individual retirement account, known as an IRA. Fewer than 5% did so.
Of course, some may be doing some retirement saving through work. But even if you’re a 20-something with a workplace 401(k), an IRA – specifically a Roth IRA – is the smartest retirement move to make. The IRS estimates only 1.25 million 20-somethings contributed to a Roth IRA in 2018.
If you’re a parent, grandparent, aunt or uncle who is looking for a way to help a 20-something build financial security, keep in mind it’s totally kosher
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