Many parents today are concerned about their children's financial future, and they are taking steps to help their kids plan for the finances. Some of these steps may include opening up a custodial Stock Market account for their kids or a custodial savings account. Many are investing money into a college savings fund, and they are providing their kids with a sound financial education as well. However, one additional step you can take is to open to a Roth IRA for children. However, you may have heard that parents cannot contribute their own funds toward this type of account.Parental ContributionsA Roth IRA is a retirement account that is designed to help working individuals save for the future. It takes after-tax dollars and allows them to grow without the effects of taxation. When they are withdrawn in the future, the funds and accumulated growth are tax-free. This is a significant advantage that can become even more beneficial over time. When a Roth IRA is opened up early in life and funded, the funds have a significant amount of time to grow. However, children do have to be working and earning their own income in order to fund this type of account. They can contribute up to the allowable limit, just as their parents can contribute to their own Roth IRA account. Many parents, however, understand that children's income is limited. It is not feasible for most children to fully fund a Roth IRA each year on their low income level. The fact is that parents can contribute to this type of account provided it does not exceed the amount of income a child earns in that year.Finding a Financial InstitutionIf you have not heard about Roth IRAs for kids in the past, you are not alone. While many parents are only starting to learn that they can open these accounts up for their working kids, many financial institutions are still unaware that the accounts can be opened for minors. While all institutions that offer these accounts have the ability to structure a minor's Roth IRA, some may not be aware that accounts for minors are permitted. It may be necessary to talk to a manager or supervisor at an institution if the first person you speak with is not knowledgeable in this area.