The Secret to Saving for Retirement: Start Before You're 20

[Happy Hoosier]

11. Can a parent fund a Roth for a kid?

My daughter is 21... in college. She has a small nest egg that was a gift from her grandmother on her 21st birthday (a small investment fund). She wants to retain access to that to "start her life" when she's out of school.

I would like her to open a Roth and for her mon and I to dump, say $10K into it over the next couple of years.... and just let that grow for the next 40 years. I don;t think there is any income requirement to fund a Roth, right? If we just gift her a couple thousand every 6 months or so with the intention of funding the Roth, that's legal right? I'll look in to this, but figure I'd ask here.

Just dumping $10K in there now would result in about $250K of non-taxable money. I hope to leave her a nest egg too, but lots of variables in that.