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Roth can be expensive gift for 16-year-old

Q. My wife and I are thinking about opening a Roth IRA [individual retirement account] for our 16-year-old son. I've paid attention, as you have suggested that small savings early in life can turn into million-dollar nest eggs. Is there any reason why we shouldn't open a Roth IRA for our son?

Gail MarksJarvis

July 8, 2007

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