Wealthy people love passing these money secrets onto their children, while working people find out too late. Not you though.
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Wealthy people love passing these money secrets onto their children, while working people find out too late. Not you though.
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43 comments
As a 50 year old man, this video really helped me make a brighter future for my children and future grandchildren!
Cringe
Which bank do you go through because I have credit cards and I have great credit score but none of them will let me add my kids on.
Also if your kid gets a scholarship you can just withdraw the money!
Helping your kids get rich by giving them a credit card to get them a credit score? Seriously? You should be having your kids avoid credit cards as long as possible and teaching them to live below their means with delayed gratification. Also, teach them how to save and invest for the long run.
You work for 42yrs to have $2m in your retirement, Meanwhile some people are putting just $20k in a meme coin for just few months and now they are multi millionaires I pray that anyone who reads this will be successful in life
Can the credit work with a child that's grow??
Can’t add my child as a user until he’s 15
You’re such a breath of fresh air positive energy and vibes while giving out abundance of knowledge thanks Vivian blessings queen
Great advice!! Parents need to do this for their kids!! It doesn't even take a lot of money, but more so the length of time. We are a new channel focused on persona finance for young adults. Just trying to help spread the education! Cheers!
What states have family trusts that continue into perpetuity and what types are subject to this type of trust?
With the way things are going with inflation still squeezing families in 2025 and markets swinging wildly, I've been thinking hard about how to give my kids a financial head start. It's not just about handing them money, it’s about setting up with a good studies and the right foundations.
I found this to be informative. I am hoping to make my children to be more independent. I had to be and that's how I will motivate them someday.
Buy income-generating assets early — Think dividend-paying stocks or rental property. If you bought just $150,000 worth of dividend stocks in 2020, by now your kid would’ve earned tens of thousands—and that’s without touching the principal.
I love this lady!
Thank you so much for sharing this information ❤
Generational wealth isn't about lottery wins, it's about consistent, smart strategies applied early. Starting an investment account for a child, even with small amounts, leverages time – their biggest asset
28year old. Got 375k in my trust fund. And $35k in my child’s school fund he is 9 months old. It should be 250-350k by the time he leaves for college. Also investing about 7 k a month still. Gonna do that for another 3-5 years then quit my film job to do something part time to be a more present daddy
The power of compounding is massive. If you gift a child the exemption limit of $19k when they’re born it could grow to $1.5 million (adjusted for inflation) by the time they’re 65.
Authorized user minimum age is 13…not newborn
Music ugh can’t hear
Can you post an update to the best accounts to set up for your child? Baby/toddler
So… Not being in USA the first 3 don't apply, but I'll look into the trust fund .
I am 53 and retired at 50. One thing I did do to retire early was to get out of the 401K and IRA programs. Bought rental real-estate and I am now a Limited Partner in about 1500+ units from collaborative efforts in the fund my estate planner has me invested in. I do not work.
I like the authorized user thing better than encouraging my 18 yr old to get a credit card. I think my friend's parents did this. She thought everyone started life with a good credit score.
Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 every 2 weeks even though I barely trade myself.
None of my cards allow authorized users under 13. Which cards allow it and no annual fee?
Some credit cards have a minimum age requirement for the authorized user.
Isnt it true that if your child say gets a full ride for school and dont "need " their 529 to pay for school they can pull out up to the amount of the scholarship tax free
Love the content Vivian 🙂 The back noise :/
1. With the credit hack with putting your kids on your credit card to build their credit score is just one way of doing it!. You can also have your child open up a secure card and put $500 on it and have them be responsible!
Custodial Roth is visible as kids income when they apply for scholarships, making them ineligible.
I’ve always wondered why the Coverdell ESA doesn’t get nearly as much attention as 529 plans. I constantly see videos and articles about 529s, but rarely about Coverdells. Even in conversations at work or with friends, 529s seem to dominate the discussion. When I mention a Coverdell ESA, most people look at me like a deer in the headlights—they’ve never even heard of it.
For an average earner, though, the Coverdell ESA can be especially powerful. Never underestimate the $2,000 annual limit. When invested in ETFs, that modest amount can grow into something significant over 10 years or so. Both accounts offer tax-free growth, but the Coverdell provides greater flexibility—you can use the funds for K–12 expenses as well as college, giving you more options than a traditional 529.
While it’s true the 529 allows for much higher total contributions, my personal approach would be to fully fund a Coverdell first and then contribute any extra to a 529. The advantage of the Coverdell is the ability to invest in ETFs, something most 529 plans don’t allow. Historically, 529 plans have averaged around 6–7% returns, while ETFs like QQQ or SPYG have delivered closer to 15–17%.
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the suluxy quality is very good Love it
Can I, or how do I, leave my investments to my child when I die?
Great video. I currently have a high yield cash account, 529 and UTMA for both of my boys(ages 2, 3). Do you recommend keeping the cash account for liquidity or is it pointless w/inflation? Currently receiving 3.75%, worried if I put this cash solely into investments it will create a large taxable event down the road when they need the money. On top of not wanting to sell any shares for compound growth. Any insight is appreciated, thanks!
3 things that fast-tracked my financial growth:
1. Taking action NOW instead of waiting
2. Reading Girl Boss Hustle: Earn 10k From Home
3. Focusing on consistency over motivation
4:08 529
Do 529 pay any interest?
Make ur kids earn there money just like ur dad … there’s no easy life…
The advice in this video is valuable for the typical American. I started investing when I was 40 back in 1998. Today, I have a decent $3.7M nest egg, thanks to the careful supervision of my CFP. After learning all of this, my only regret is not starting earlier when I was 35. It may not seem like much but those extra 5 years are the most important.
One thing to note about custodial Roth or any kind of custodial accounts (say a custodial brokerage) is that it can have a negative impact on scholarship chances because colleges look at these accounts (they are in the child's name) as a criteria to offer scholarship and a child possessing these accounts will not be deemed as needing scholarship.