My youngest, Joshua the Mercenary, is now 16, has a part-time job. He is already cursing the IRS. With a smile on my face, I told him it is Congress, not the IRS, with whom he should be upset and to remember that when he votes.
I want to explain the Roth IRA to him. However, I am not clear on the details:
- Max contributions
- penalty for early withdrawals
- excemptions to the penalty
Dick