April 20, 2017

What mom REALLY needs for Mother's Day

My New York City sister sent me an email about a Mother's Day Brunch for "only" $105 per adult and $45 per child! Obviously that's what the 1% (or 10%) does to celebrate Mother's Day.
What mom really needs is not an expensive restaurant meal, flowers, or another kitchen gadget. What most mothers need, especially those who are NOT in the paid workforce is... an IRA! Yes, an individual retirement account! Women who are working full time (unpaid) in the home need to build retirement security and, unfortunately, most will depend on their husbands, who are subject to the 4 Ds: Divorce, Disability, premature Death, and Desertion.
Time to enter the 21st century and fund a Roth IRA for mom. Check out the ultra low cost, low entry, very diversified options from mutual fund companies Charles Schwab and Vanguard.
You only need $100 to open a Schwab target retirement index fund IRA. http://www.schwab.com/public/schwab/investing/accounts_products/investment/mutual_funds/mutual_fund_portfolio/target_funds
If Mom is worth $1,000, then check out Vanguard Target Date Retirement Funds:
Both mutual fund company websites explain mutual funds, target date funds and IRAs.

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