Radical Personal Finance
1015: Friday Q&A: Deleting a Social Security Number for your Child, UTMA Accounts, Sell Old House or Keep as Rental
May 10, 2024
Topics discussed in the podcast include obtaining social security numbers for children, opening UTMA accounts, natural baby-birthing experiences, and the decision to sell an old house or keep it as a rental property.
52:58
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Quick takeaways
- Opening a UTMA account for children can provide long-term financial benefits through investment growth.
- Deciding whether to sell an old house or keep it as a rental requires assessing workload, flexibility, and financial viability.
Deep dives
Advantages of Renting Out the Texas House
Renting out the Texas house could lead to long-term wealth accumulation through property ownership. Having tenants pay off the mortgage can significantly increase net worth. Owning multiple properties can provide financial benefits due to increased property value and tenant rental income.
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