@budgetdog_: Let me put you on 👇🏻 Most people don't even invest until they're 30. But this strategy can give your child a million dollar head start 👀 Here's how I do it: 1. Use the right accounts for your goals: - 529 for tax-free education money - Custodial Roth IRA for tax-free withdrawals - Taxable Brokerage for flexibility 2. Leverage your business: - If you have a business, you can pay your child up to $14,600/year for helping out. - Then you can invest the earnings in a Roth IRA 3. Invest smart: - I like low cost total market ETF’s like $VTI and $VXUS - Reinvest dividends automatically 4. Stay consistent: - This is crucial if you want the accounts to grow - Set up automatic monthly investments - Increase contributions with each raise 6. Future Hacking - You can use SECURE Act 2.0 to convert unused 529 funds to a Roth IRA - Your 529 can be used even if your child doesn’t need money for school (scholarships) Generational wealth is easy when you start early... So get a move on! And follow me @budgetdog for more family finance content 🤝🏼
