How to Money cover image

How to Money

Ask HTM - The Wrong Fidelity Account, Geographic Arbitrage, & Financially Preparing for a Baby #760

Dec 11, 2023
Topics include financial preparation for having a baby, moving from California to Arizona, investing in a 529 college savings plan, and encouraging a new job holder to invest. The hosts also discuss the generosity of others in giving away baby items, leaving investments in equities, and investing in a Roth IRA for a working teenager. They touch on the flavor of spring water in beer and express gratitude for a beer donation.
51:56

Podcast summary created with Snipd AI

Quick takeaways

  • Encourage teenagers to open a Roth IRA to instill the habit of investing in retirement.
  • Teach teenagers about financial responsibility and the power of compound interest to empower them in their financial future.

Deep dives

Encouraging Teenagers to Start Investing in Retirement

Parents of working teens can instill the habit of investing in retirement by encouraging them to open a Roth IRA. Even a small contribution of $5 or $10 a week can make a difference. By starting early, teenagers can develop a mindset of regular investing and understand the importance of saving for the future. While the grocery store job may not offer a 401(k) or a match, the Roth IRA provides a tax advantage and flexibility. This way, teenagers can get accustomed to having a portion of their paycheck automatically dedicated to retirement savings.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

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

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