So I am setting up a Roth for my kid for their job and it's asking about the state of establishment and age of termination (21 or 25).
So are their rules or advantages over the state of establishment? We live VA but are still FL Residents am I forced to one or the other or am I better off selecting a different state (am I even allowed too?)
Also its asking the age of Termination (21 or 25). Is there pro or con of either one? I assume this means at which age I am no longer "in control" of the investments in the IRA. My hope is she will use some of this IRA for college tuition, but is there any downsides to it being one or the other?
Also is my assumption correct after this age of termination does this just become a normal IRA that she can continue contributing to herself down the road?
Submitted August 10, 2021 at 10:02AM by Gousf https://ift.tt/3yE4Zvg
