The New York Times

Has your teenager landed a summer job? Good! Now, consider putting your child’s earnings to work long term by opening a Roth individual retirement account.

It may seem odd to think about retirement savings when your child could still be wearing braces. But putting money now into a Roth I.R.A. means your child will have decades for the money to grow, tax free.

If you dread tax day every year, here’s a bit of good news: Your tax burden probably will lighten when you retire.

You’ll still pay taxes on income you receive from sources that haven’t been taxed yet, such as 401(k) and individual retirement accounts or a defined benefit pension.Your Social Security benefits also may be taxed, depending on your income

Retirement savers need to pay close attention to their income tax filings this year because of pandemic-related changes to rules for required withdrawals.

Even in normal times, the rules for mandatory minimum withdrawals can be confusing, and are even more so this year because of a mash-up of tax changes and virus relief programs.If you get things right, you can avoid paying unnecessary taxes, financial advisers say.

Two books are intended to help people who are worried about their finances in the midst of this painful pandemic.One suggests ways of improving your situation right now

“You could take little crumbs out, and let it grow tax-deferred over decades,” said Ed Slott, a certified public accountant and I.R.A.expert in Rockville Centre, N.Y