Home|The Paradigm Philosophy|Investment Advisory Services|Account Center|NEWS|Contact

Featured News

More Articles  Printer Friendly Version

 

Father's Day Financial Tip: Put Your Kids To Work

Here's a Father's Day financial tip: Put your children to work.

Paying your kids to do regular chores can be a satisfying financial transaction for parents and brilliant financial aid to your children.

You can pay your son to mow the lawn every week this summer and compensate him by contributing up to $5500 to a Roth IRA in his name.

Or make your Father's Day special by asking your daughter to wash your car every week, babysit, tutor, care for an older family member or take on any number of other responsibilities. By converting an allowance to earned income, your children clean up financially and literally. Their Roth IRA grows tax free for 50 years.

And talk about gifts. The Standard & Poor's 500 stock index this past week climbed 1.6%, to a close on Friday of 2779.03 - just 3% from an all-time closing high of 2872.87 on January 26. The nine-year economic expansion - the second-longest in modern U.S. history - continues to show signs of sustainable growth.

Now, make your Father's Day special by getting your children working! Relax and have a great Father's Day!


This article was written by a veteran financial journalist. While the sources are believed to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation. Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.


Email this article to a friend


Index
Quarter Ends Well Despite Trade War, Inverted Yield Curve & Political Crisis
No Recession But A Slower Pace Of Growth
Fickle Financial Headlines Brighten
Economy Gets Bad Press Again
Europe's Growth Problem And Your Portfolio
A Prudent Perspective On Recent Volatility
A Tale Of Two Economies
Amid Worries, New Equity Risk Premium Data Explained
GDP Rose More Than Expected; Stocks Top Record Again
Slower Growth Confirmed By June Leading Economic Indicators
Stocks Closed At A Record High; Should You Worry?
Amid Record Stock Prices, Fed Policy Is A Risk
Pre-Retirees To Convert To IRAs More Often
Economic Facts To Prepare For The Elections
Protect Yourself Against Spearphishing
Economic Facts To Prepare For The Elections

This article was written by a professional financial journalist for Paradigm Consulting, Inc. and is not intended as legal or investment advice.

©2020 Advisor Products Inc. All Rights Reserved.
© 2020 Paradigm Consulting, Inc. | 133 Business Park Drive, Utica, NY 13502 | All rights reserved
P: 315-797-8400 x235 | F: 315-797-8403 information@paradigmci.com |
Disclosure | Privacy Policy | Contact Us

Form CRS

Securities and advisory services offered through Royal Alliance Associates, Inc. Member FINRA/SIPC and a Registered Investment Advisor. Additional investment advisory services offered through Paradigm Consulting, Inc., a Registered Investment Advisor, not affiliated with Royal Alliance Associates, Inc. Fixed and/or traditional insurance services offered through Paradigm Consulting, Inc. Paradigm Consulting, Inc. is not affiliated with Royal Alliance Associates, Inc. or registered as a Broker-Dealer.

Paradigm Consulting, Incorporated and Paradigm Benefits are separate entities. Paradigm Benefits is not affiliated with Royal Alliance Associates, Inc.

This communication is strictly intended for individuals residing in the states of AL, AZ, CA, CT, DE, FL, IL, KS, KY, LA, MA, MD, MI, MO, MS, NC, NJ, NV, NY, OH, OK, OR, PA, SC, TN, TX, VA, WA and WI. No offers may be made or accepted from any resident outside the specific state(s) referenced.

Please review Important Disclosure Information