Skip to main content
Connected Wealth Management
menu
  • Home
  • About Us
    • Our Advantage
    • Meet Our Team
  • Our Services
    • Comprehensive Planning
    • Investment Management
    • Tax Minimization
    • Social Security & Medicare
    • Retirement Income
    • Estate Planning
  • Insights
    • Research
    • Firm Commentary
  • Client Access
  • Contact Us

  • Firm Commentary

Interested in learning more?

Help me with my Wealth Strategy

Get a Jump Start on Saving

Paul Brown | Jul 22, 2025

Our youngest daughter recently turned 16 and landed her first job. She was thrilled to start earning her own money to supplement the $10 weekly allowance she’d been getting. As we did with her older sister, we offered to open a Roth IRA and match any contributions she made—up to $500.

She quickly ran the numbers, realized she could immediately double her money and grow it tax-free over her lifetime, and asked: “Can I put in more if I want!”

There’s no magic formula for building wealth. It’s simply about saving and investing consistently over time. And what better way to help instill those values in your kids than by offering a little incentive?

As long as your child has earned income—even from a family business—you can open a custodial Roth IRA and help kick-start their retirement savings journey early. Once they turn 18, the account transfers into their name. And down the road, they can even use up to $10,000 of their Roth IRA savings toward a first home purchase.

What’s not to like about that?

If you’re interested in this or other smart strategies to help your family plan, save, and invest well, we’d love to help. Let us know how we can support your goals and give you more confidence in your financial future.
 

Connected Wealth Management

4777 Sharon Road,
Suite 540,
Charlotte, NC  28210

Main: 704-912-5088
Text: 704-686-8445
Fax: 980-972-0787
Email: paul@connected-wealth.com

     

Check the background of your financial professional on FINRA’s BrokerCheck.

Securities offered through LPL Financial, Member FINRA/SIPC. Connected Wealth Management is a marketing name for Independent Advisor Alliance, LLC. All investment advice is offered through Independent Advisor Alliance, LLC, a registered investment adviser. Independent Advisor Alliance, LLC is a separate entity from LPL Financial.

The LPL Financial representatives associated with this website may only discuss business with residents of states I which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.

  • LPL Financial Form CRS
  • Independent Advisor Alliance’s Form CRS
© 2026 Connected Wealth Management. All rights reserved.