The Pitch #139 FutureMoney
Aug 14, 2024
Cyan Banister, a savvy investor; Charles Hudson, a tech-focused venture capitalist; Elizabeth Yin, a driven entrepreneur; Mac Conwell, an advocate for underrepresented founders; and Jesse Middleton, a champion of financial innovation, dive deep into FutureMoney’s mission. They discuss the groundbreaking Junior Roth IRA aimed at building generational wealth for kids, tackle the importance of early financial education, and share strategies for effective investment in today's competitive landscape.
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Founder's Background
- Phil Barrar, after a $65M exit, returns with FutureMoney, a platform for generational wealth.
- He aims to surpass the "unicorn" status he missed with his previous venture.
Millennial Financial Challenges
- Millennials face financial challenges due to wage stagnation, inflation, and housing costs.
- Many Black and Latino families lack equity investments, highlighting a generational wealth gap.
Utilizing Secure Act 2.0
- Leverage the Secure Act 2.0, which allows 529 rollovers to Roth IRAs.
- Automate this complex process to simplify generational wealth building for families.