Investments for Newborns: Your Step-by-Step Plan for Your Baby’s Future

New parents often wonder where to start when it comes to investing for their child’s future. In this episode, we walk through a 5-step plan to invest for your newborn -- from protecting your family and setting up a 529 plan to teaching your kids how to build wealth on their own.

We also feature Naseema McElroy, founder of Financially Intentional, who paid off $1 million of debt and built a $1 million net worth by age 44. She shares how she’s teaching her kids about ownership, investing early, and building generational wealth.

Finally, we wrap up with a fun money quiz with Calvin, testing his knowledge about investing, scholarships, and how to grow wealth over time.

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RECOMMENDED RESOURCES (SPONSORS & AFFILIATES)

• Monarch Money – Best budget app for families & couples.

• Empower – Free portfolio tracker.

• Crew – HYSA banking built for families (Get an extra 0.5% APY with my partner link).

• Ethos – Affordable term life insurance.

• Trust & Will – Convenient estate planning made easy.

Podcast Chapters
00:00 – Generational wealth and the true legacy worth investing in
00:21 – Welcome and episode overview
00:49 – Net Worth Win: Naseema McElroy of Financially Intentional
01:15 – Listener question: how to invest for a newborn
01:40 – Step 1: Secure your own finances first
02:45 – Step 2: Protect your family with life insurance, a will, and credit freezes
04:30 – Step 3: Open a 529 college savings plan
06:30 – Step 4: Consider a UTMA or UGMA custodial account
08:00 – Step 5: Add a custodial Roth IRA once your child has earned income
09:20 – Teaching kids the power of compounding
10:00 – Recap: five steps for investing for newborns
11:10 – Naseema McElroy on paying off $1M of debt
13:20 – Investing for herself and her children
15:20 – Building wealth through retirement accounts and home equity
18:00 – Teaching her kids to invest and own stocks
23:00 – Employing kids in your business for Roth IRA contributions
24:00 – Why starting early matters for generational wealth
25:20 – Naseema’s advice: start now, don’t wait
26:57 – Money Quiz with Calvin Hill

HOW WE MAKE MONEY + DISCLAIMER
This show may contain affiliate links or links from our advertisers where we earn a commission, direct payment or products.
Opinions are the creators alone.
Information shared on this podcast is for entertainment purposes only and should not be considered as professional advice.
Marriage Kids and Money (www.marriagekidsandmoney.com) 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 amazon.com.

CREDITS
Podcast Artwork: Liz Theresa
Editor: Johnny Sohl
Podcast Support: Andy Hill

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