Key Takeaways Simple moves like opening a high-yield savings account can help your kids learn how interest works and form a strong financial foundation. Compounding returns make investing particularly powerful for kids, as they have decades of potential growth ahead of them. Kids can often take advantage of certain tax benefits that are especially advantageous at their young age, like contributing to a Roth IRA. Becoming wealthy doesn’t always require working a high-powered job or starting a busin ...