New York ? If your child has a part-time job and is disciplined enough to save his or her earnings, putting the money in a Roth IRA can be a good way to illustrate how money can grow over time.

Up to $3,000 a year can be put into a Roth IRA, and even though this money is invested with after-tax dollars, it may be a good choice because your son or daughter’s tax bracket is likely much lower now than it will be when he or she retires.

A recent tax cut coupled with the chance of higher rates in the future makes the tax bite fairly benign, especially when compared with what a young person would lose to taxes with a traditional IRA, which allows investors to forego taxes now, but makes them pay later.

Withdrawals from a Roth IRA are not taxable after you’ve had the account for five years and are at least 59 1/2 years old.

Given ample time to grow and favorable economic factors, a few thousand dollars invested now could become a hundred thousand dollars.