Halfmore: Roth IRA for Child 1.24

About Halfmore:

Halfmore provides a platform designed to assist children in establishing a strong financial foundation through a custodial Roth IRA. By turning small savings into potentially significant retirement funds, the program emphasizes the importance of early wealth-building. The integration of chores with Roth IRA contributions creates an engaging approach for families.

Parent Features:

• Legal Arrangements: Parents have the capability to set up legal frameworks that allow them to employ their children.
• Chores Management: An effective system for assigning and overseeing household chores helps parents maintain control over their child's responsibilities.
• Payroll Management: Facilitates management of payroll processes for the income generated from chores.
• Documentation: Parents can generate comprehensive work history documentation suitable for tax purposes.
• Tax Filing: The platform streamlines the filing of both federal and state taxes.

Child Features:

• Daily Planning: Children may organize and monitor their daily chore schedules, developing a sense of responsibility.
• Customization: The calendar can be personalized with time blocks and playful stickers, making organization enjoyable.
• Goal-Setting: Kids are encouraged to track completed tasks, fostering essential time management skills.

Founded by alumni from Stanford, Google, and Teach For America, Halfmore addresses the critical issue of wealth disparity among American children. The initiative seeks to democratize access to intergenerational wealth, specifically targeting children aged 5 and older.