21: How To Make Your Child a Millionaire
Rich Habits Podcast
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How to Set Your Child Up to Be a Millionaire
The 529 account is a tax advantage investment account that can be used to pay educational expenses from kindergarten through graduate school. When you withdraw this money, again, you're not obligated to pay a dime in taxes on those profits over that 18-year period. You could actually roll over $35,000 of the money in this account directly into their Roth IRA at the age of 18. It's really a set it and forget it strategy. Almost every parent should be able to spend $100 a month to set each child up for success.
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