Exploring options like UTMA and UGMA accounts for minors, this chapter discusses the historical context of these accounts and the regulatory differences between adult and minor finances. It highlights the benefits of starting financial education early and managing money for teenagers through various account types like custodial IRAs and Roth IRAs.
#503: Lindsay’s husband struggles with a mental disability. She’s worried about the impact on her family’s finances. How does she maintain harmony in her marriage and protect her kids’ future?
An anonymous caller is stoked about her young nephew’s interest in saving for retirement. What’s Paula and Joe’s advice for a teenage saver?
Another anonymous caller wants to get personal about Paula’s personal finances.
Following up on a discussion from episode 494, Melanie has exciting news to share about automating ETF investments at Vanguard.
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
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For more information, visit the show notes at https://affordanything.com/episode503
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