Make sure the kids are all right
The kids are alright

Millennials are the most highly educated generation, yet the most common jobs for this bunch are found in retail. No wonder their wages are stagnating.

To help your twenty-something kids get a financial leg up, set aside $5,000 for each to open a Roth IRA (as long as they have earned income, they qualify). Roths are funded with after-tax dollars, so they're ideal for young workers in a low bracket now.

Your kids can invest the money in a target-date fund, such as T. Rowe Price Retirement Fund 2055 (TRRNX). They can also tap the funds tax-free at withdrawal, or before then for a house down payment or their own children's tuition.

  @Money - Last updated October 05 2012 02:17 PM ET
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