As we get older things we should have done

Life is changing more and more as we move through life. Charlie is now 18 and a man. I wish when he was little David and I had taken the time to learn about insurance and 401K’s. Soon David and I will be in our 70s and we have nothing to leave Charlie, and this scares me.

if you’re a parent or think you might be one day you should look into Custodial Roth IRA. I love how there are no age limits to open a custodial Roth IRA for your child but the essential requirement to qualify is that your child has to earn income.

I wish I had known this when Charlie was little and he might be more willing to find a job which he hasn’t done and it’s driving me batty. Instead of worrying about what I can or can’t do for Charlie he has to grow up and get a job because I can’t and will not take care of Charlie the rest of his life.

Here is information I will be sharing with Charlie and the parents of his friends which I thought you might be able to use with your family.

5 Must‑Have Tips When Looking into a Custodial Roth IRA

In case you didn’t know a Custodial Roth IRA is one of the most powerful ways to set your child up for long‑term financial success. I’ve put together five essential tips to help not only my family, but parents understand the rules, benefits, and best practices before opening an account.

1. Confirm Your Child Has Earned Income– Charlie doesn’t have income yet but I hope that will change soon because a Custodial Roth IRA can only be funded with earned income. You can remind your children babysitting, lawn care, part‑time work, or any job where your child is paid for real labor counts as income. Gifts and allowance don’t qualify.

2. Start Early to Maximize Tax‑Free Growth– My mistake as Charlie’s parent was not starting his account when he was little because the earlier your child contributes, the more decades their money has to grow tax‑free. Even small amounts including change they accumulate throughout the week in the teen years can compound into something meaningful by adulthood.

3. Understand Your Role as Custodian– Starting a Custodial Roth Account for Charlie was a #teachingmoment for my family because I had to figure out how to manage the account until our children reaches the age of majority (18–21 depending on your state). After that, the account becomes fully theirs—investments, decisions, and withdrawals.

4. Know the Contribution Limits– For 2026, the contribution limit is $7,500 or your child’s earned income—whichever is lower. Contributions are made with after‑tax dollars, and contributions (not earnings) can be withdrawn anytime without penalty. I know $7500 sounds like a lot of money but if you break it down into weeks or days including how much to save it does get easy and can happen without causing financial hardships.

5. Choose Long‑Term, Growth‑Focused Investments– Long-Term Roth Accounts is a decades‑long account, simple, low‑cost investments like index funds or diversified stock portfolios are often the most effective for long‑term growth. Another #teachingmoment for my family.

Now that I’ve decided to take my life back, I need to look into different types of insurance for David, and I’ve been using this website that explains different types of insurance for me. Come and join me and let’s figure out how to be a grownup together in this thing called life

In the meantime, I’ve off to walk a bit as I struggle to get my health under control because being obese can and will affect what insurance I can and can’t get. Here is another website I’ve been studying you might want to check out as well. Come and join me on my walking journey and here is a website that offers tips you can use which I’ve been using to help me lose some of the weight I need to lose.

Thank you,

Glenda, Charlie and David Cates