If you have kids in your life, do your part to set them up for a bright financial future and help them get ahead. In this video, I'm going to cover the 4 types of accounts you can open for your kids, and the pros and cons of each. I'll also touch on tax considerations, plus how these accounts effect eligibility for financial aid to pay for college. Lastly, I'll share some tips on how to start educating and encouraging kids to invest in their future

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TIMESTAMPS
0:01:24 - Terminology: Owner vs. Beneficiary vs. Custodian
0:03:28 - Roth IRAs for kids (aka custodial Roth IRA)
0:06:15 - 529 accounts
0:07:25 - Coverdell ESAs
0:09:45 - UGMA/UTMA brokerage accounts
0:11:40 - Pros & cons of each account
0:15:25 - Tips to encourage kids to save/invest

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***BOOKS I RECOMMEND 📚***

I Will Teach You to Be Rich (hilarious how-to book on personal finance for millennials)
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The Little Book of Common Sense Investing (Jack Bogle's classic advice on index funds)
[ Ссылка ]

InvestED (step-by-step, millennial-friendly advice on how to pick stocks like Warren Buffett)
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Unshakeable (this book = courage. blast ALL the fears & misconceptions you have about investing)
[ Ссылка ]

Rich Dad Poor Dad (#1 selling personal finance book of all time... need I say more?)
[ Ссылка ]

Think and Grow Rich (the ultimate book on money mindset and wealth consciousness)
[ Ссылка ]

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***MY FAVORITE MONEY TOOLS 🖤***

YNAB (I literally can't live without this budgeting app, so obsessed)
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Wise (like Venmo but for international currencies - I use this app a LOT for my life in Mexico)
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Ledger Nano S (crypto storage hardware wallet, because "Not Your Keys, Not Your Crypto"!):
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DISCLAIMERS & DISCLOSURES ❤

This content is for education and entertainment purposes only. Rose does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.

This description contains affiliate links that allow you to find the items mentioned in this video and support the channel at no cost to you. Investing With Rose is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to www.amazon.com. Thank you for your support!

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