UTMA Archives – Marriage, Kids and Money

5 Smart Ways to Save and Invest for Your Child’s Future – with Damian Dunn

In today’s episode, Andy chats with Damian Dunn about how to save for our children’s future.

Damian is the director of personal finance strategies at Your Money Line and is the co-host of the Pete the Planner Show. He’s been working in the financial industry for nearly 20 years and is passionate about providing accessible and affordable financial guidance to anyone seeking it. He also has two kids of his own, and lives in Indiana.

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Where Can I Open a Brokerage Account to Invest for my Kids?

Our second question of the month comes in from Kevin from our Thriving Families Facebook Community …

My kids are getting physical cash from grandparents for holidays. They are small denominations like $5 for Halloween, $1 for successful potty usage, etc.

What kind of vehicle does everyone have set up for this?

The easy solution is usually a savings account, but I’d love to get it in the market in some manner so the money can grow over their childhood.

Do brokerage houses such as fidelity even allow kids to open accounts with say $10?

Planning Your Family’s Financial Legacy – with Cameron Hendricks

Increasing your savings, making more money and amassing wealth can have a huge impact on your personal finances. Your wealth can allow you to buy things that bring you joy, experience incredible vacations and create more free time for yourself. For some people, building wealth isn’t just about personal enjoyment. It is about leaving a legacy for your family.

Nicole and I aren’t quite at the spot where our kid’s college savings is taken care of. We also don’t have an investment account set up for them when they reach adulthood, but we sure would love to some day. First, we want to make sure our retirement goals are set. As they say, there’s no such thing as retirement loans, but student loans ARE an option.

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