Now, I know what you’re thinking: If this is such a great idea, why isn’t everyone doing it? Well there are two very good reasons why we don’t see Child IRAs blossoming in mutual fund accounts all across this land. First, not many people know about The Child IRA. Second, and more important, even if people are aware of The Child IRA, they aren’t currently eligible to participate.

As explained in “How to Take Advantage of The Child IRA Under Current Laws,” (, July 13, 2016), there is one job a child can do from very nearly the moment he is born: model. Baby models appear in display ads and video commercials. While the pay scale varies by market, it’s not unreasonable to expect a child model to make at least the requisite $1,000 a year needed to contribute to The Child IRA. Job opportunities in top tier markets often feature the added benefit of residuals, meaning the child can earn income in future years based on work done in a past year.