Halfmore: Roth IRA for Children

Turn chores

into contributions

for your child’s Roth IRA

Save early with a custodial Roth IRA to give your child

decades of tax-free compound growth,

turning pennies into fortunes.

Turn chores

into contributions

for your child’s

Roth IRA

Save early with a Roth IRA to give your child decades of tax-free compound growth, turning pennies into fortunes.

Built By

Stanford, Yale Law School, and Teach For America alumni, committed to empowering every child’s financial future

Built By

Stanford, Yale Law School, and Teach For America alumni, committed to empowering every child’s financial future

Don’t underestimate

the power of

a custodial Roth IRA

Compound Interest:

Yes! Start early and watch your funds grow significantly!(Try it for your child below)

Tax-free Growth:

Yes! None of those gains are taxed

Contributions Withdrawals:

Yes! Anytime, penalty-free

Flexible Fund Use:

Yes! For a first home, higher education, or any other qualifying life expense.

Learn more

BUT your child needs 'earned income' to open a custodial Roth IRA

The most common barrier

to open a custodial Roth IRA:

Most kids don’t have earned income, which is required to open a custodial Roth IRA. Therefore, many families don’t even consider it.

Wealthy, financially savvy parents hire their children to generate income and maximize tax-free growth through custodial Roth IRAs — a strategy we believe should be accessible to all.

Don’t underestimate

the power of

a custodial Roth IRA

Compound Interest:

Yes! Start early and watch your funds grow significantly!(Try it for your child below)

Tax-free Growth:

Yes! None of those gains are taxed

Contributions Withdrawals:

Yes! Anytime, penalty-free

Flexible Fund Use:

Yes! For a first home, higher education, or any other qualifying life expense.

Learn more

See what the media are saying:

UBS: Should you open Roth IRAs for your children?

nerdwallet: Try a Custodial Roth IRA

BUT your child needs 'earned income' to open a custodial Roth IRA

The most common barrier

to open a custodial Roth IRA:

Most kids don’t have earned income, which is required to open a custodial Roth IRA. Therefore, many families don’t even consider it.

Wealthy, financially savvy parents hire their children to generate income and maximize tax-free growth through custodial Roth IRAs — a strategy we believe should be accessible to all.

We enable all families

to open Roth IRAs

for their children

Our Solution

Halfmore helps parents open custodial Roth IRAs by turning chores into income, growing tax-free retirement funds that could reach millions.

Legal Service:

We set up legal arrangements for parents to legally hire their children for household tasks, similar to hiring a nanny.

Payroll service:

We automate services, ranging from managing chores to payroll for parents.

Document Service:

We provide IRS-ready work history documents, making it hassle-free for parents.

Tax filing service:

We handle all services related to federal and state taxes, from earning to filing.

Start early, Reap Big

The longer your money compounds, the more it can grow exponentially.

Investing now vs. starting at 25

(Comparison of potential returns)

Try it for your child

Your Kid's Age : 7

518

* Expected rate of return : 9.5%

(Note: The average annual return of the S&P 500 is 12.63% over the past 15 years and 9.67% over the past 30 years.)

Contribution Age (for 10 years)

7 to 17

25 to 35

Total contribution

$7,000 annually

Same contribution for 10 years

Roth IRA Balance at Retirement

$4,944,078

Earn x5.1 more

$965,231

Start now to save $3,978,847 more on retirement.

Start early, Reap Big

Try it for your child

Your Kid's Age : 7

518

Investing now vs. starting at 25

(Comparison of potential returns)

Contribution Age (for 10 years)

7 to 17

25 to 35

Total contribution

$7,000 annually

Same contribution for 10 years

Roth IRA Balance at Retirement

$4,944,078

Earn x5.1 more

$965,231

* Expected rate of return : 9.5%

(Note: The average annual return of the S&P 500 is 12.63% over the past 15 years and 9.67% over the past 30 years.)

Start now

to save $3,978,847 more

on retirement.

Busy parents are in love with us!

Join parents on Halfmore and give your child a financial head start

Not only does it help create income for children to start Roth IRA, it also teaches children the invaluable lessons or earning and investing.

David

It’s actually cheaper and easier than QuickBooks to use for payroll for my kids.

Meka

Love this app for taking care of the headaches with paperwork, record keeping an payroll for kids Roth IRA.

Marcus

Great and intuitive app for dealing with the paperwork associated with setting up a custodial Roth IRA

Rachel

Not only does it help create income for children to start Roth IRA, it also teaches children the invaluable lessons or earning and investing.

David

It’s actually cheaper and easier than QuickBooks to use for payroll for my kids.

Meka

Love this app for taking care of the headaches with paperwork, record keeping an payroll for kids Roth IRA.

Marcus

Great and intuitive app for dealing with the paperwork associated with setting up a custodial Roth IRA

Rachel

Now,

Halfmore makes the process simple, fast, and fun for you and your child.

Step 1

Hire your child for household tasks.

We establish a legal structure that allows parents to hire their children.

* The legal structure includes employment agreements, wage determinations, employment tax forms, and other relevant documentation necessary to comply with applicable labor laws and regulations.

Step 2

Convert those chores into earned income.

We enable your child to earn income through chores, making them eligible to open a Roth IRA

* Earned income is a prerequisite for opening custodial Roth IRAs, although there is no age limit.

Step 3

Start a custodial Roth IRA for your child.

We seamlessly transfer earnings to a custodial Roth IRA, helping your child build wealth tax-free.

* Contributions to a custodial Roth IRA are limited to the lesser of the child’s earned income or $7,000 annually.

Step 4

File taxes - federal and state.

We handle both federal and state tax filings, offering services from legal setup to tax compliance.

* Your child must be a U.S. citizen or resident to use Halfmore’s service.

In summary, parents

only assign chores

- Halfmore does the rest.

Legal arrangement setup

Chores management

Payroll processing

Work history documentation

Tax form generation

Start young,

achieve more.

You can secure your child’s future by saving small amounts of money and letting them compound tax-free. Over time, your child can be worth millions of dollars, guaranteeing a lifetime free of financial hardships.

Halfmore makes this process convenient and fun for both parents and kids.

Start young,

achieve more.

Halfmore makes this process convenient and fun for both parents and kids.