I'm trying to help my son kick start his retirement but want to hide it from him. Currently he is a 19 year old bio major in his sophomore year potentially going to med school or becoming a PA (hopefully he goes to med school). I do his taxes every year for him. I'd like to fund a Roth IRA for him every year with funds that he pays me for his monthly car insurance plus matching funds from me. Of course I know if I tell him about it and he sees it grow, he will just take it and spend it because I know I would have at his age.
Does anyone know how this can be accomplished and hide it entirely from him? I want to hand it over to him at a later date when he starts in the workforce.
Tried to do it via Vanguard but for some reason the "open an account" option on the website couldn't verify his identity and wants me to mail the application in and/or call Vanguard.
Does anyone know how this can be accomplished and hide it entirely from him? I want to hand it over to him at a later date when he starts in the workforce.
Tried to do it via Vanguard but for some reason the "open an account" option on the website couldn't verify his identity and wants me to mail the application in and/or call Vanguard.
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