How have you set your kids up financially? They have savings accounts and a 529. I’ve heard mixed reviews of adding them to your credit card. What about starting a brokerage account for them? It wouldn’t be anything crazy, like a few shares of Disney or an ETF.

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We are planning to start Roth IRAs for them once they get jobs, and we’re planning to pay a substantial chunk of their education.

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Another thing we did was to buy our toddler a whole life policy for her in her name. Since she was 2 when we bought it she did not have to take any medical tests and the rates are low. We will pay the policy until it is fully funded. As an adult she can borrow against it, sell it, or save it as a legacy asset for herself.

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Like any other financial product it depends on your specific situation. Once you have maxed everything else out it has tax advantages. Agree it should not be the first thing you buy, but that does not mean it doesn’t have its place

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I have mutual funds and I invest in CDs and long leaps

UTMA brokerage account, Roth IRA, and 529. Will probably get her a credit card at some point soon and put a reoccurring charge on it with autopay for a history

You should get them their own credit card at like 16 to start building credit. Super small limit and just make sure it’s fully paid each month will really help them get a lease, car loan, etc. after college.

My daughter is two months old - we have a trading account for her where for the last 11 months, we have been investing $2k. Buying Apple, Nvidia, AMD, Costco, QQQ, and Target. Whatever the portfolio value would be when she’s 16/17 will belong to her education + housing (if we get the return which my model suggests)

Account is u/ my wife + my name with my daughter added as a beneficiary.

Saving for all 3 of their colleges via 529. Wasn't even thinking about doing anything else (credit cards, brokerage, savings acct, etc), nor can I afford to at this time at least. Now I feel bad reading this thread.

529 and SPDR gold

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