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Rob Hudson, CExP, CLTC®
Rob Hudson, CExP, CLTC®
Westshore Financial Group Financial Advisor/Managing Associate/Certified Exit Planner
https://www.westshorefinancialgroup.com/rob-hudson (813) 289-3632

Dedicated to managing your risk by providing the protection that you need to have confidence in your financial future.

I am a trusted advisor to many, working with business owners and in advanced markets, specifically medical, legal, and with highly compensated sales professionals. My clients understand that a one-size fits all approach to planning and investing may not create favorable financial outcomes. I believe that my unique approach to goal planning, combined with past experience and expertise in the markets I serve, enable me to provide tailored solutions to my client’s financial problems that help lead them to their goals.

An alumnus of The University of South Florida with a BS in Economics, I am a fourth generation Tampa native with deep roots in the community. I am also a proud graduate of Tampa Jesuit high school. My grandfather, Frank Llaneza, was regarded as a pioneer in the premium cigar industry and a pillar of the Tampa community. My father is a disabled CPA, so I have a thorough understanding of the importance of protecting and managing cash flow.

I entered the financial services industry in 2008, and joined Guardian Life and Park Avenue Securities in 2012, where I was awarded the agency's first Centurion Award. I have been featured in a number of publications, am a member of the Coastal Conservation Association, The Westshore Business Alliance, and the Million Dollar Round Table. I am also proud to be a representative in The Tampa Jesuit Alumni Council, as well as a preferred financial wellness provider for physicians-in-training through HCA East and West Florida teaching hospitals.

I come from a family of outdoors enthusiasts, am an avid fisherman, and regularly compete in professional tournaments. I've even managed to win a few. Ask me about the fishing tournament when I won a brand new boat!

 

Video: Personal finance is like fishing! Video: Risk Management for Attorneys Video: Protecting your Business

Starting a Roth IRA for a Teen

Retirement Read Time: 3 min

Want to give your child or grandchild a financial head start? A Roth IRA might be a choice to consider. Read on to learn more about how doing this may benefit both of you.

Rules for setting up a Roth IRA. If your teen has an earned income, you may be able to set up a Roth IRA for them. For example, if your 15-year-old has earned $7,500 at a summer job, you can set up an account for them up to $7,500 (the maximum annual Roth IRA contribution in 2026). The amount cannot exceed the teen’s income. Keep in mind that the money you contribute to the Roth IRA can count as a gift within your $19,000 yearly gift tax exclusion ($38,000 for a married couple).1

Looking ahead to the future. If money is withdrawn from a Roth IRA before age 59½, a 10% federal tax penalty may apply. There is, however, a notable exception. Up to $10,000 of investment earnings can be taken out of a Roth IRA at any time if the money is used to buy a first home. In this instance, the IRS may waive the early withdrawal penalty. Should your teenager become a parent someday, a portion of those Roth IRA assets might also be utilized to pay college tuition costs for themself or their child.2,3

This article is for informational purposes only. It's not a replacement for real-life advice, so make sure to consult your tax professional before modifying any Roth IRA strategy. Tax-free and penalty-free withdrawals also can be taken under circumstances other than first-home purchases, such as the owner's death. The original Roth IRA owner is not required to take minimum annual withdrawals. To qualify for the tax-free and penalty-free withdrawal of earnings, the teenager must meet a five-year holding requirement and occur after age 59½.

Greater earning potential, thanks to the magic of compound interest. Setting up a Roth IRA for a teenager is a great way to introduce them to basic financial concepts, such as compound interest. Giving your teen a hands-on learning experience may help them understand the value of saving for the future. You may also be facilitating the development of your children’s or grandchildren’s financial habits.

There are a few things to consider when setting up a custodial Roth IRA. Setting up a Roth IRA for a minor is often referred to as a custodial IRA. Until the child is able to take it over, you act as the custodian of the account. Individual state laws determine when the minor child is able to take over management of the Roth IRA for themselves.

A tax professional can provide guidance that may help ensure that you and your minor child are following all federal and state regulations.

1. Investopedia.com, April 30, 2025
2. IRS.gov, 2025
3. IRS.gov, 2025

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

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