Imagine your kid turning 18 and already having a retirement account — one you opened before they could walk. That’s not a fantasy. That’s FutureMoney. They’re the first company to offer a Junior Roth IRA, a tax-free investment account that grows with your kid from day one.

The Big Idea

Phil Barrar, founder and CEO of FutureMoney, joined us in the Dad Lab to talk about something every dad cares about: giving your kids a financial head start.

Because here’s the stat that should make every parent perk up: 80% of parents believe kids should have a retirement account from birth.

Now they can.

The Problem

Parents have always wanted to save for their kids, but the system made it messy.

  • 529 Plans: Great if your kid goes to college. Not so great if they don’t.

  • UTMA/UGMA Accounts: In your kid’s name… which means they control the cash at 18 (good luck with that).

  • Taxable Brokerage Accounts: Flexible, sure. But zero tax advantages.

Until now, there wasn’t a clean, parent-controlled, tax-efficient way to build long-term wealth for your kid.

The Solution: The Junior Roth IRA

FutureMoney’s Junior Roth IRA changes the game.

It’s a hybrid between a cash account and a 529 plan that automatically converts into a Roth IRA when your child reaches adulthood.

Key perks:

  1. No earned income requirement — anyone can contribute.
  2. Tax-free growth — compound interest working from day one.
  3. Withdrawals for major milestones like a home down payment.
  4. Penalty-free access to contributions anytime.

That’s real generational wealth-building, not handouts, not hype. Just smart compounding and modern tax code working in your favor.

Bonus: The Custodial Roth IRA

For older kids with “earned income” (babysitting, lawn care, family chores, etc.), FutureMoney also offers a Custodial Roth IRA with higher contribution limits and tools to help parents properly document that income.

Translation: your kid can start learning the earn → invest → grow loop before middle school.

Quick Note: The $1,000 “Trump Account”

Separately from FutureMoney, the federal government recently approved a $1,000 “Trump Account” program for babies born between 2025 and 2028. Each eligible newborn will receive a one-time $1,000 deposit from the government — a national “baby wealth starter” meant to kick off lifelong saving.

FutureMoney’s Junior Roth IRA is independent of that program, but the two can work side-by-side to supercharge your child’s financial foundation.

The Dad Takeaway

You don’t have to be rich to give your kid a rich future. You just need to start early and use the right tools. FutureMoney makes that simple, and they’re the first to make it possible from birth.

So yeah, you can keep buying toys that end up in the garage…or you can open an account that could fund their first home or even their retirement.

Your move, Dad.

📥 Get started with FutureMoney: futuremoney.co
💸 USE CODE: DADGOOD for $50 funded.

Bonus:

Watch Phil Barrar, founder and CEO of FutureMoney below.