IRAKids Clubs are small groups of kids, each of whom is supported by a corresponding parent or guardian. Generally, clubs will include kids of similar age and level of financial literacy. In most cases, clubs should be fairly small -- not more than 12 kids (and possibly 12 adults).

Younger age IRAKids Clubs will require the involvement of parents or guardians. However, IRAKids Clubs at the high school level may not need parental involvment, other than provision of custodial services related to the kids' savings accounts and IRAs.

Sponsorship of IRAKids Clubs

Whenever possible, ask a financial or investment professionals to sponsor a club. These sponsors can help direct and focus the educational activities of the clubs, and possibly provide related services for the kids free of charge or at greatly reduced rates. Sponsors also will help kids and the corresponding adults from making financial mistakes. When a local sponsor is not available, parents can sponsor their own clubs.

Benefits of IRAKids Clubs

IRAKids Clubs are a variation on the traditional Investment Club. In IRAKids Clubs, instead of pooling funds for investment, it is the educational process and mutual support that is pooled, with each kid (and parent/guardian) making independent investments in the kid's Roth IRA. This also provides a great forum for comparing results, and learning more about investment options and strategies.

Examples of Activities at IRAKids Clubs

Those involved in an IRAKids Clubs can identify tasks for which parents/guardians will pay kids to perform and collectively set the payment rates. That way, kids in the same "community" will earn approximately the same amount for work performed. Also, friends will have a forum to educate each other about wants vs needs, and perhaps reduce some of the peer pressure for the latest styles and technologies – because friends understand the longer-term alternatives and benefits. And parents will benefit equally from these discussions and by setting subsequent examples.

Additional Resources

The IRAKids website contains much additional information on this and related topics, such as self-employed parents hiring their kids. Also, the website provides links to resources and services that will be helpful in exploring these issues further, individually and/or in IRAKids Club meetings. We also seek your advice and suggestions, based on your personal or Club’s experiences in achieving these objectives. Selected input from you will be mounted and shared on this website.

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