This story appears in the September issue of Entrepreneur. Caroline and Isabel Bercaw were once obsessed with bath bombs. This was back in their middle school days, when their peers were equally obsessed with the bombs -- powdery, fist-size balls that, when dropped in a tub, release an eruption of fragrance and color and fizz. Which meant even more time with bath bombs. So she and her older sister started experimenting at home, creating their own bath bomb recipes and adding a surprise in the center, like a small toy or piece of jewelry. They took a batch to a local art fair in Minneapolis to see if people would buy them.
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Each year, the Littleton, Colorado, certified financial planner and his wife, Francie Steinzeig, a school psychologist, contributed an amount equal to whatever the two boys earned cutting lawns, shoveling snow and doing odd jobs. Financial planners know that Roth IRAs can set kids up for sound financial futures. Since children have decades ahead for money to compound, even relatively small contributions can grow large. The catches:.
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Last Updated: October 22, References Approved. This article was co-authored by Michael R. Michael R.
While Generation Xers struggle to move up the corporate ladder because Baby Boomers aren't retiring as early as planned, those who fall under Generation Y have been making their own income in innovative ways. This list presents some of America's youngest entrepreneurs, and we hope it will inspire you and help you realize that it's neither never too late or too early to pursue your dreams of being a business owner. Hart Main is a year old that came up with the idea of manly scented candles when he was teasing his sister about the girly scented ones she was selling for a school fundraiser.