AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
4min chapter
21: How To Make Your Child a Millionaire
Rich Habits Podcast
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.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode