The Ultimate Interactive Roth IRA Calculator
Late last week a teenager stopped by to promote his power washing business. We walked through what needed to be done, and after we agreed on a price, I told him about a Kiddie Roth IRA. When I used this calculator to illustrate what he could have at retirement if he started to invest now -- his eyes lit up and widened like Yanely’s during a Fin Cap Friday video as she makes her most important point!
Teachers had to deal with kids trading in brokerage accounts during the GameStop Frenzy (we have an On Demand for that). That’s tough to compete against, but this FinMango calculator can surely help! It’s intuitive, illustrative, and compares Roth IRA accounts to brokerage accounts. You can even use it to teach minors about Kiddie IRAs (we have an On Demand for that too)!
If I were still in the classroom, I would use this interactive calculator in our ACTIVITY: Compare Types of Retirement Accounts (Sp) and following our Fin Cap Friday: New in 2019 - NEVER Pay Taxes On Investment Earnings With A ROTH IRA!!!
About the Author
Making a difference in the lives of students through financial capability is Brian’s greatest passion. He comes to NGPF after fifteen years of public school teaching where he was the ‘11 Ohio Department of Education recipient of a Milken National Educator Award, the CEE Forbes Award winner, and a Money Magazine/CNN "Money Hero". He served on the working group for President Obama's Advisory Council on Financial Capability. He has private school experience as a Trustee for the Cincinnati Country Day School and was a past Ohio Jump$tart President. Brian holds a BBA and M.Ed. When Brian isn’t working alongside his NGPF teammates he is likely spending time with his wife, three children, and dog; hiking, or watching Ohio State football.
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