Personal finance

How Much Money Your Children Will Have for Retirement If You Invest the Child Tax Credit Every Year Until They Turn 18

The child tax credit traditionally gave qualifying families a $2,000 credit per child.

This year, the $1.9 trillion American Rescue Plan Act of 2021 boosted that maximum number up to $3,000 per kid ages 6 to 17 and $3,600 for younger children.

What if you could afford to invest those credits for your child's future? 

CNBC crunched the numbers, and we can tell you how much your child would have for retirement at age 67 if you invest the equivalent of a child tax credit every year until they turn 18. 

Check out this video for a full breakdown of the numbers.

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