| | L.A. Daily News - Business (Site not responding. Last check: 2007-11-06) |
 | | A money market account -- whether you mean a federally insured account at a bank or an uninsured money market mutual fund -- is a very conservative investment designed to protect your principal while paying only a modest rate of interest (currently averaging 1.5 percent to 2 percent at best). |
 | | But if the money is intended to provide for her retirement, it must be left untouched until she does retire. |
 | | If part of the money can be moved to a Roth IRA (subject to annual limits, and possible only when your daughter has "earned income," which is mostly income from work), withdrawals from the Roth can be totally tax-free. |
| www.dailynews.com /Stories/0,1413,200~20950~2616938,00.html (766 words) |