In response to:

Dave Says Set Daughter Up for Serious Money

1ConservativeUSA Wrote: Mar 26, 2013 11:22 AM
Overall good advice regarding teaching financial life lessons to our kids. It is sorely needed. One clarfication: You need to file the tax reurn due to the modeling income, not because you contributed to a Roth IRA.
MrTufts Wrote: Mar 28, 2013 1:38 PM
Dave didn't say the tax return was connected to the Roth IRA.

Dear Dave,

My daughter is 14, and she was recently offered a steady weekend modeling job. Do you have any advice on how to handle the money she earns?

Cynthia

Dear Cynthia,

In terms of investing some of the money she’ll make, a Roth IRA would be pretty cool. You would have to oversee it, of course, and you’d have to file a tax return, but starting something like this when she’s 14 would help set her up for some serious money later.

I think the biggest thing, however, is to make sure you...