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WCI #294: Finance For the Whole Family

White Coat Investor Podcast

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How to Deal With Self-Employed Taxes

The chances of this being audited are really low. The only thing you got to watch out for if you have a kid that's under eight, the Social Security Administration will send you a letter every year asking you what they're actually doing that's earning income. A target retirement fund is a pretty good choice. Don't put it all in Tesla stock and McDonald's stock or something like that. Do not make them self-employed.

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