Podcasts about utma

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Best podcasts about utma

Latest podcast episodes about utma

WealthStyle Podcast
How to Strategically Plan for College Costs (Ep.99)

WealthStyle Podcast

Play Episode Listen Later Apr 14, 2025 37:36


How do you ensure your child's education savings strategy is truly future-proof? Join Iván Watanabe and Evan Wohl as they dive into education funding strategies beyond the one-size-fits-all solutions. This episode lends insights into using various financial vehicles like 529 plans, UTMA accounts, and whole life insurance, while evaluating their pros and cons. Iván and … Read More Read More

Your College Bound Kid | Scholarships, Admission, & Financial Aid Strategies
YCBK 515: After You Hit Submit, “What Else Do You Need To Do”?

Your College Bound Kid | Scholarships, Admission, & Financial Aid Strategies

Play Episode Listen Later Mar 6, 2025 70:00


In this episode you will hear:   (01:56) In The News A mom asks a very important question, Should you ever skip optional questions. Hillary and Mark start out discussing this question but they bounce around and cover a lot of topics including, about 15 minutes discussing “why it is so important for a college to know which students are coming   (28:44) Interview: Frequently Asked Questions about 529 Plans, Julie Shields-Rutyna and Jonathan Hughes from MEFA, Part 3 of 4     Preview of Part 3 ·         S Julie answers the question, what happens if a family saves money and then the student decides that they do not want to go to college, what options does the owner of the 529 plan have? ·         Jonathan and Julie answer the question, Is it true that parents should first take care of their own retirement before they fund a 529 plan? ·         Jonathan tells us where our listeners can learn about their 529 plan options. ·         Jonathan talks about the difference between direct sold vs advisor sold 529 plans ·         Julie tells us how 529 Plans are handled from a financial aid standpoint, and she talks about how this differs from a Coverdale or UTMA and UGMA. ·         Julie also talks about the recent changes in how grandparent-owned 529 plans are assessed ·         Jonathan talks about how you can roll over an UTMA or UGMA to a 529 Plan ·         Julie talks about the rate that the 529 plan is assessed in the asset calculation compared to other savings options ·         Jonathan tells us when a family should start investing in a 529 Plan ·         Julie talks about some of the differences between the 529 Plans and the UTMA, UGMA and Coverdale plans ·         Jonathan tells us whether a parent should still contribute to a 529 when their child is in college ·         Julie and Jonathan talk about whether there is an income cap that restricts high income families from contributing to a 529 Plan   (47:10) Question from a listener:  Lisa and Lynda answer a question from an anonymous listener, “after you hit submit, what else do you need to do”. Lisa and Lynda.”       Speakpipe.com/YCBK is our method if you want to ask a question and we will be prioritizing all questions sent in via Speakpipe. Unfortunately, we will NOT answer questions on the podcast anymore that are emailed in. If you want us to answer a question on the podcast, please use speakpipe.com/YCBK. We feel hearing from our listeners in their own voices adds to the community feel of our podcast.   You can also use this for many other purposes: 1) Send us constructive criticism about how we can improve our podcast 2) Share an encouraging word about something you like about an episode or the podcast in general 3) Share a topic or an article you would like us to address 4) Share a speaker you want us to interview 5) Leave positive feedback for one of our interviewees. We will send your verbal feedback directly to them and I can almost assure you, your positive feedback will make their day.   To sign up to receive Your College-Bound Kid PLUS, our new monthly admissions newsletter, delivered directly to your email once a month, just go to yourcollegeboundkid.com, and you will see the sign-up popup. We will include many of the hot topics being discussed on college campuses.   Check out our new blog. We write timely and insightful articles on college admissions:   Follow Mark Stucker on Twitter to get breaking college admission news, and updates about the podcast before they go live. You can ask questions on Twitter that he will answer on the podcast. Mark will also share additional hot topics in the news and breaking news on this Twitter feed. Twitter message is also the preferred way to ask questions for our podcast:   https://twitter.com/YCBKpodcast   1. To access our transcripts, click: https://yourcollegeboundkid.com/category/transcripts/ 2. Find the specific episode transcripts for the one you want to search and click the link 3. Find the magnifying glass icon in blue (search feature) and click it 4. Enter whatever word you want to search. I.e. Loans 5. Every word in that episode when the words loans are used, will be highlighted in yellow with a timestamps 6. Click the word highlighted in yellow and the player will play the episode from that starting point 7. You can also download the entire podcast as a transcript   We would be honored if you will pass this podcast episode on to others who you feel will benefit from the content in YCBK.   Please subscribe to our podcast. It really helps us move up in Apple's search feature so others can find our podcast.   If you enjoy our podcast, would you please do us a favor and share our podcast both verbally and on social media? We would be most grateful!   If you want to help more people find Your College-Bound Kid, please make sure you follow our podcast. You will also get instant notifications as soon as each episode goes live.   Check out the college admissions books Mark recommends:   Check out the college websites Mark recommends:   If you want to have some input about what you like and what you recommend, we change about our podcast, please complete our Podcast survey; here is the link:     If you want a college consultation with Mark or Lisa or Lynda, just text Mark at 404-664-4340 or email Lisa at or Lynda at Lynda@schoolmatch4u.com. All we ask is that you review their services and pricing on their website before the complimentary session; here is link to their services with transparent pricing: https://schoolmatch4u.com/services/compare-packages/

NerdWallet's MoneyFix Podcast
Will New Tariffs and Tax Rules Cost You? (Plus: Travel Rewards & Roth IRA Tips)

NerdWallet's MoneyFix Podcast

Play Episode Listen Later Feb 6, 2025 31:01


Get the latest on tariffs, federal spending and the CFPB shake-up — plus answers to your travel credit card and Roth IRA questions. What tariffs has President Trump implemented? What's the best travel credit card for earning rewards and perks? How do you open a Roth IRA and choose investments? Hosts Sean Pyles and Elizabeth Ayoola discuss the latest financial news, including new tariffs, federal spending changes, and what's happening with the CFPB under the Trump administration. They begin with a discussion of how tariffs may raise prices for consumers, how government funding uncertainties could affect personal finances, and what to know about potential changes to financial protections. Then, host Sara Rathner joins Sean to answer a “lightning round” of listener questions, including questions about travel credit cards and Roth IRAs. They cover top travel credit cards and their perks, how to decide if a travel rewards card is right for you, and what to consider when opening a Roth IRA. NerdWallet's roundup of the best brokers for beginner investors: https://www.nerdwallet.com/best/investing/online-brokers-for-beginners  In their conversation, the Nerds discuss: best travel credit cards, how to open a Roth IRA, travel rewards cards, Roth IRA step-by-step, tariffs impact on prices, federal spending freeze, CFPB changes, financial protections, Chase Sapphire Reserve review, American Express Gold Card benefits, best credit card for travel perks, how to choose a credit card, travel credit card comparison, investment accounts for kids, best brokerage accounts, best 529 college savings plan, credit freeze explained, credit card points vs. cash back, pros and cons of travel credit cards, Roth IRA tax benefits, how to pick a Roth IRA provider, best robo-advisors for retirement, what is a custodial account, UTMA vs. 529 plan, how to invest for grandkids, personal finance news, money tips, financial literacy, best tax-advantaged accounts, step-by-step Roth IRA guide, best credit card welcome bonuses, tax implications of travel rewards, how tariffs affect your wallet, how to budget for travel, how to avoid credit card debt, and how to maximize credit card rewards. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend.

The Sugar Daddy Podcast
69: How to Manage Finances in the Sandwich Generation

The Sugar Daddy Podcast

Play Episode Listen Later Dec 18, 2024 46:42 Transcription Available


Can you support your kids and aging parents without sacrificing your financial stability? In this episode, we unpack the unique challenges of the sandwich generation and share practical strategies to help you stay balanced.Key Takeaways:Talking Money with Parents: Learn how to initiate open conversations about their financial plans, from savings and debt to long-term care, so you can avoid unexpected burdens and ensure everyone's stability.Caregiving Without Overload: Discover tips for managing elder care while maintaining your career, including leveraging employer benefits and budgeting wisely for caregiving options.Planning Ahead with Your Partner: Prepare for scenarios like integrating a parent into your home or navigating medical expenses with tools like life insurance and long-term care policies to secure generational wealth.Raising Financially Savvy Kids: Empower the next generation with financial literacy, teaching them critical skills like smart spending, delayed gratification, and planning for the future with 529 plans and UTMA accounts.This episode is your guide to balancing family responsibilities and building a strong financial foundation for generations to come. Listen now to take control and thrive!Watch this episode in video form on YouTube: https://www.youtube.com/channel/UCP55O4Ku4dukHcK0kExhpcATo apply to be a guest on the show, visit https://www.thesugardaddypodcast.com/guests/intake/ If you'd like to leave us a question to be answered during future episodes, you can do so at:https://www.speakpipe.com/thesugardaddypodcastYou can email us at: thesugardaddypodcast@gmail.comBe sure to connect with us on socials @thesugardaddypodcast we are most active on InstagramLearn more about Brandon and schedule a free 30-minute introductory call with him here: https://www.oakcityfinancial.usBuy us a coffee: https://buymeacoffee.com/thesugardaddypodcastPlease remember to subscribe, rate, and review.

Pralaužk vieną šaltą
#129 cmd Opiumo skandalas | Lažybos su Dirksčiu iš 10k?

Pralaužk vieną šaltą

Play Episode Listen Later Nov 6, 2024 108:46


Susirnkom pakalbėti apie Kisliako svorio metimo kelionę, Opiumo kliube vykstančius negerus dalykus, apie paskutine UTMA, kurioje Mantui buvo pasiūlyta lažintis iš 10k ir kt.Support the show

Pralaužk vieną šaltą
#126 cmd Bakalauras apie Roastus | Turkijos kebabai. Apkūnios panos dealbreakeris?

Pralaužk vieną šaltą

Play Episode Listen Later Oct 15, 2024 127:37


Kisliakas pasidalino savo kelionės įspūdžiais iš Turkijos. Peržiūrėjom bakalaurinį darbą apie Roast Battle, apžvelgėm UTMA turnyrą. Bandėm atsakyti reddito klausimą ar panos svoris yra dealbreakeris? Apie steroidus ir COLDPLAY tribute pasirodymą.Support the show

Negyvas Eteris
Vėl Tie Patys #201 apie UTMA, "Jessicą Šnai" ir siaubūnų klasę

Negyvas Eteris

Play Episode Listen Later Oct 1, 2024 153:31


Vėl Tie Patys #201 apie UTMA, "Jessicą Šnai" ir siaubūnų klasę by Negyvas Eteris

One Minute Retirement Tip with Ashley
Using A Plain Vanilla Minor Account For Grandchildren

One Minute Retirement Tip with Ashley

Play Episode Listen Later Sep 6, 2024 4:28


This week on the Retirement Quick Tips Podcast, I'm talking about: Best Investment Accounts For Grandchildren Today, I'm talking about using investment accounts for minors to save and invest for grandchildren.They are sometimes referred to as custodial accounts, UTMA, or UGMA accounts. 

One Minute Retirement Tip with Ashley
Maintain Control by Earmarking Funds & Gifting Later

One Minute Retirement Tip with Ashley

Play Episode Listen Later Sep 5, 2024 5:54


This week on the Retirement Quick Tips Podcast, I'm talking about: Best Investment Accounts For Grandchildren. Tomorrow, I'm going to talk about UTMA or UGMA accounts for minors. These are popular vehicles for grandparents to save for their grandchildren, but they have some real and important drawbacks, like the fact that once Junior reaches adulthood, which could be anytime between 18-25 depending on what state you live in, that money is theirs and they can blow it on anything they like. 

HopeFilled Financial Podcast
Grow YOUR Child's Financial Future | 401Kid | HopeFilled FootStep #6 - Ep. #83

HopeFilled Financial Podcast

Play Episode Listen Later Aug 13, 2024 36:21


-How can you set up your child for financial success? What nuances do you need to know about ESAs and 529s? 00:00 - Intro 00:39 - My Lego Robotics Kit 09:24 - HopeFilled Financial FootStep #6 - 401Kid In today's story Jay shares how he earned his Lego Robotics Kit when he was a kid and how he saved it to build with his children. The lessons he learned about money are ones he'd like to pass on. He also shares from an NPR: https://www.npr.org/2021/07/27/1021262899/finance-money-tips-kids-families-conversations The main topic is HopeFilled Financial FootStep #6 - 401Kid. Should you do an ESA, UTMA, 529, or something else? What are the implications of each? Find out more in these articles: -https://fairmark.com/kids-and-college/utma/what-expenditures-are-proper/ -https://www.thrivent.com/insights/retirement-planning/the-secure-act-2-0-allows-a-529-plan-rollover-to-a-roth-ira -https://www.savingforcollege.com/intro-to-529s/which-is-the-best-529-plan-available Please don't forget to like, share, and subscribe! Doing so helps us grow and share HopeFilled financial wisdom. We release a new episode every Tuesday! Subscribe if you don't ever want to miss an episode! You can submit a question on our website (hopefilledfinancial.com) or message us on Facebook (@HopeFilledFinancial). Disclaimer: This podcast serves as educational entertainment only. Any and all opinions relating to real estate, law, taxes, insurance, and/or securities investing that may be contained within this podcast should not be interpreted or implemented as recommendations nor advice. The opinions related to these topics – especially those regulated by state and/or federal entities – should never be taken as replacement for advice from a competent, licensed professional. HopeFilled Financial Coaching is not liable for any individual acting on any understanding of topics directly or indirectly related to real estate, legal practice, taxes, insurance, or investing even if an individual in question changed their understanding after listening to this podcast. All listeners are entirely responsible for seeking advice from licensed professionals before taking any action of their own. Our Website: HopeFilledFinancial.com  Music: "Take Me Higher" by Jahzzar Music Copyright License: This music is licensed under the Creative Commons Attribution-ShareAlike 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/4.0/ or send a letter to Creative Commons, PO Box 1866, Mountain View, CA 94042, USA.

White Coat Investor Podcast
WCI #371: Which Accounts Will Make Your Kids Rich?

White Coat Investor Podcast

Play Episode Listen Later Jun 13, 2024 39:04


Today we answer your questions about rolling over an HSA, when to withdraw from your HSA, whether a UTMA or Custodial Roth IRA is better for your kids, if it is a good idea to open a solo 401(k) for your kids, how to maximize your 403(b) contributions and how to mimic the US Stock Market index fund if your 403(b) doesn't offer that. Today's episode is brought to you by SoFi, helping medical professionals like us bank, borrow, and invest to achieve financial wellness. SoFi offers up to 4.6% APY on their savings accounts, as well as an investment platform, financial planning, and student loan refinancing…featuring an exclusive rate discount for med professionals and $100/month payments for residents. Check out all that SoFi offers at https://www.whitecoatinvestor.com/Sofi *Loans originated by SoFi Bank, N.A., NMLS 696891. Advisory services by SoFi Wealth LLC. The brokerage product is offered by SoFi Securities LLC, Member FINRA/SIPC. Investing comes with risk including risk of loss. Additional terms and conditions may apply. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you! Main Website: https://www.whitecoatinvestor.com  YouTube: https://www.whitecoatinvestor.com/youtube  Student Loan Advice: https://studentloanadvice.com  Facebook: https://www.facebook.com/thewhitecoatinvestor  Twitter: https://twitter.com/WCInvestor  Instagram: https://www.instagram.com/thewhitecoatinvestor  Subreddit: https://www.reddit.com/r/whitecoatinvestor  Online Courses: https://whitecoatinvestor.teachable.com  Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter 

The Dentist Money™ Show | Financial Planning & Wealth Management
#516: Fan Favorite - Strategies to Use for Kids Savings – Episode 292

The Dentist Money™ Show | Financial Planning & Wealth Management

Play Episode Listen Later May 17, 2024 34:17


Enjoy a replay of another one of our most popular Dentist Money Show episodes. You know that kids are expensive. Should you be saving for their future? Some dentists say ‘yes', others choose not to. No matter what you decide, you should know the children's savings options available to you—529 education accounts, minor Roth IRAs, UTMA accounts, etc—so you can do what's best for your family. On this episode of the Dentist Money™ Show, Ryan and Matt discuss saving strategies for minors. Book a free consultation with a CFP® advisor who only works with dentists.  

Radical Personal Finance
1015: Friday Q&A: Deleting a Social Security Number for your Child, UTMA Accounts, Sell Old House or Keep as Rental

Radical Personal Finance

Play Episode Listen Later May 10, 2024 52:58


On today's podcast we discuss: 1:40 Should I get my child a social security number? 19:54 Why you should open a UTMA account for your children 34:10 Natural baby-birthing experiences  39:10 Should I sell my old house or keep it as a rental? Join me for next week's call at https://patreon.com/RadicalPersonalFinance  Enjoy! Joshua

Penktas kėlinys
PENKTAS KĖLINYS: netikėtas „Žalgirio“ papildymas, atkrintamųjų prognozės ir skrajojantis „Neptūnas“

Penktas kėlinys

Play Episode Listen Later Apr 19, 2024 85:33


Norite daugiau turinio? Tapkite rėmėjais paspaudę šią nuorodą: https://contribee.com/krepsinisnet 00:00 – praleistas podkastas 01:39 – Eurolygos įkrintamosios 09:20 – atkrintamųjų prognozės 23:34 – „Žalgirio“ pralaimėjimas Klaipėdoje 35:27 – Lietuvos treneriams reikia pasitempti 45:09 – netikėtas „Žalgirio“ papildymas 55:04 – LKL rezultatyvių perdavimų rekordas 58:40 – naujokas Utenoje 1:01:10 – Panevėžyje liekantis N.Čanakas 1:05:08 – parduotas „Olimpas“ 1:13:07 – UTMA 1:16:08 – Ch.Eidsono pagerbimas

Habesha Finance Podcast
150. 529 vs ESA vs UGMA/UTMA vs Roth IRA [Saving for College in 2024]

Habesha Finance Podcast

Play Episode Listen Later Mar 11, 2024 11:06


In this podcast you will learn about the 5 different ways you can save for college including the 529 Plan, Coverdell ESA, UGMAs and UTMAs and even the Roth IRA. Each of the accounts have their pros and cons and by the end of this podcast you will be able to choose the best account for you to save for college. WATCH NEXT ➡️ Ultimate Roth IRA Guide for 2024: Unveiling the Secrets of the Rich!: https://youtu.be/CQJ_6wbV6fs --- Send in a voice message: https://podcasters.spotify.com/pod/show/habeshafinance/message

DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing

Quint and Logan talk about various investment accounts for kids, what the different acronyms mean, and the best one to save for your child.

Radical Personal Finance
999: Friday Q&A: Financial Privacy, UTMA Accounts, Business Curriculum, Company Stock, Family-Owned Business, etc.

Radical Personal Finance

Play Episode Listen Later Mar 1, 2024 123:27


On today's Q&A podcast we discuss: 1:43 If we try to keep financial privacy about our affairs, won't we miss out on some very valuable financial conversations? 20:02 I have UTMA accounts for my children. Is that a problem? 25:39 Should we incorporate a business curriculum into our homeschool curriculum? 41:41 How do we handle excessive children's growth opportunitites like gymnastics? 46:50 How do I figure out how much company stock to keep vs. sell? 53:58 How do I choose a high-quality charity to leave as the benificiary of my trust? 1:05:05 How do I do a business valuation for a family-owned bar? 1:16:42 How do I affect the behavior of my distracted homeschooler? 1:40:31 How do I choose what services to outsource? 1:46:50 Biographies Joshua is reading and discussion on the future of family wealth planning.

Pralaužk vieną šaltą
#115cmd Grįžom į Tinder | Piktas Beta vyro laiškas, kovų turnyrai, miegojimas pelkėje

Pralaužk vieną šaltą

Play Episode Listen Later Feb 28, 2024 97:59


Naujas epizodas, kuriame pasidalinome įspūdžiais iš UTMA turnyro. Taip atsitiko, jog Airidas grįžo į Tinder. Perskaitėme pikto Beta vyro laišką. Kisliakas pasidalino patirtimi kaip sekėsi miegoti pelkėje. Ir apie tai kaip Mantą miške įveikė malka.Support the show

White Coat Investor Podcast
WCI #354: Mega Backdoor Roth Contributions with Minimal 1099 Income

White Coat Investor Podcast

Play Episode Listen Later Feb 15, 2024 33:12


Today we tackle a few of your questions about 529s. We answer some questions about when you have to pay taxes on your rollover IRA contributions to Roth as well as a question about Mega Backdoor Roths. We talk about structured notes and what the advantages and disadvantages are to saving for minors using a UTMA vs. a parental brokerage. Today's episode is brought to us by SoFi, the folks who help you get your money right. They've got exclusive rates and offers to help medical professionals like you when it comes to refinancing your student loans—and that could end up saving you thousands of dollars. Still in residency? SoFi offers competitive rates and the ability to whittle down your payments to just $100 a month* while you're still in residency. Already out of residency? SoFi's got you covered there too, with great rates that could help you save money and get on the road to financial freedom. Check out their payment plans and interest rates at https://SoFi.com/WhiteCoatInvestor SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. Additional terms and conditions may apply. NMLS 696891. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you! Main Website: https://www.whitecoatinvestor.com  YouTube: https://www.whitecoatinvestor.com/youtube  Student Loan Advice: https://studentloanadvice.com  Facebook: https://www.facebook.com/thewhitecoatinvestor  Twitter: https://twitter.com/WCInvestor  Instagram: https://www.instagram.com/thewhitecoatinvestor  Subreddit: https://www.reddit.com/r/whitecoatinvestor  Online Courses: https://whitecoatinvestor.teachable.com  Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter 

The Affluent Entrepreneur Show
Q&A - Investing & Paying For College

The Affluent Entrepreneur Show

Play Episode Listen Later Jan 15, 2024 47:37 Transcription Available


The decision to invest in a college education carries more weight today than ever before. With escalating costs and evolving job markets, the question isn't just about getting a degree; it's about making smart financial choices for the future. In this episode, I tackle the critical aspects of investing in education and the nuances of funding college. It's a deep dive into balancing the scales of knowledge acquisition and savvy financial planning.I also explore various financial vehicles like UTMA, UGMA accounts, 529 accounts, Roth IRAs, and others, dissecting their advantages and potential pitfalls. It's not just about choosing the right account; it's about understanding how these decisions ripple through your financial life.So make sure to catch this episode – it's packed with insights that could be vital in securing a stronger financial future for you and your family. IN TODAY'S EPISODE, I DISCUSS: Tax implications and benefits of UTMA/UGMA accounts versus 529 and Roth IRAsStrategies for paying for college without jeopardizing your retirementThe true cost of student loans and how to guide your kids towards financial savvinessRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:Which is Better High Yield Savings Accounts or CDs?How to Do Money Right As a FamilyBuild Wealth & Live a Rich Life at Any Age (My son's journey)Wealth By The Decade - Roaring 20sTAKE THE FINANCIAL FREEDOM QUIZ:Take this free quiz to see where you are on the path to financial freedom and what your next steps are to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com  OTHER RESOURCES:7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.comAffluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/CONNECT WITH ME:Website: MelAbraham.comYouTube: MelAbraham.com/tubeInstagram (@melabraham9): MelAbraham.com/igFacebook Group: MelAbraham.com/group/TikTok: https://www.tiktok.com/@melhabrahamGET MY BOOK:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/Go to AskMelNow.com to let me know how I can serve you and your financial journey

Relative Currency
Majoring in Minors

Relative Currency

Play Episode Listen Later Jan 10, 2024 15:44


Alysia discusses the differences between UTMA and UGMA as an asset vehicle for children.

Talking Real Money
Know Before You Commit

Talking Real Money

Play Episode Listen Later Jan 8, 2024 27:37


Before you enter into any relationship, it's important to know how the other person perceives money. This is particularly important to know if you plan to spend your life with that person. Plus, listeners ask: Can funds from a UGMA or UTMA be moved into a minor's 529 plan? What is our opinion of spiders (the ones spelled SDPRs)? Learn more about your ad choices. Visit megaphone.fm/adchoices

The Get Ready For The Future Show
Principal Payments vs. Investing

The Get Ready For The Future Show

Play Episode Listen Later Nov 25, 2023 36:09


Should we start making additional principal payments on our 30-year mortgage or put that money toward investing? On the Get Ready for the Future Show, we're answering YOUR questions! What's the difference between brokerage and UTMA if I want to pre-pay future child expenses? Is it better to max out my HSA or Roth 401(k) first? Is my friend's pawn shop a good indicator of the economy? And if you would like a question answered on the show, reach out to 501.381.5228 and leave a voicemail! Or email your question to show@getreadyforthefuture.com! Originally aired 11/22/2023

Dollar Wise Podcast
How to Invest in A Secure Financial Future for Your Children

Dollar Wise Podcast

Play Episode Listen Later Oct 3, 2023 12:36


Jason Gabrieli zeroes in on a topic he often discusses with clients: investing for the younger generation in your family. Jason reviews the options available to you as a parent, grandparent, or guardian to begin fostering a secure financial future for them. Jason reviews several options, including accounts available under a custodian's supervision, individual or joint investment accounts, and, of course, the classic 529 college savings plan. Tune into this episode to also learn: What makes UTMA and UGMA accounts a secure choice for investing in the younger generation's future, and what are the caveats?How does opening an investment account in your or your spouse's name work, and what control does it grant you over the funds designated for your children or grandchildren?What is the 529 college savings plan, and what are the stipulations for the tax reliefs it offers?What we discussed[00:01:20] Exploring UTMA/UGMA accounts for child investments[00:03:02] Maintaining control with child-earmarked personal investment accounts[00:03:36] 529 plans: state-sponsored, tax-deferred college savings[00:08:17] Roth IRAs for kids: great benefits but requires earned income3 Things To Remember UTMA and UGMA accounts allow minors to hold assets with a custodian until a specific age, offering a flexible yet controlled approach to early-age investments. Setting up an investment account individually or jointly with a spouse grants you the liberty to dictate the terms of fund usage, helping to maintain a secure financial future for the younger members of your family.The 529 college savings plan is a government-backed initiative facilitating tax-free growth of savings for educational purposes, albeit with the condition that the funds be used for approved educational expenses.Useful LinksConnect with Jason Gabrieli: jgabrieli@HFMadvisors.com | LinkedInLike what you've heard…Learn more about HFM HERESchedule time to speak with us HERECheck out our Financial Wellness Program – HFM Ignite

Adulting Is Easy
AIE 142: Invest for Your Kids Born and Unborn with Budgetdog

Adulting Is Easy

Play Episode Listen Later Sep 5, 2023 22:14


This week, Lauren interviews the Budgetdog himself, Brennan Schlagbaum. Brennan talks about parenthood and gets into what it's like to parent a special needs child. Brennan and his wife Erin have an almost-2-year-old with Dravet syndrome. One theme woven throughout is the importance of having time, money, and health at the same time. Then, the two focus on the topic at hand: investing for your kids. The Schlagbaums started investing for their first child, Logan Lee, before she was even born. They're currently utilizing a brokerage, 529, and Roth IRA for their kid (she does baby modeling). Guess what? They have a second baby on the way in September! They've started investing for her now too. Brennan also tells Lauren about ABLE accounts. Then, they jump into the WHY behind investing for your kids, and balancing helping your kids versus making them entitled. Brennan says, “Create trust fund babies in a good way.” They briefly touched on UTMA & UGMAs. Don't forget, though, to take care of yourself and your retirement before investing for your kids. Brennan leaves us off with one more thing you can use to invest for your kids: real estate. If you liked this episode, you'll also like 27, Teachable Moments for Kids and 129 with the Wealth Dad. About Brennan: Brennan Schlagbaum is a 31-year-old entrepreneur and personal finance influencer, but there's more to the story than that. When Brennan and his then-fiancée Erin were “normal” 24-year-olds “building their life,” they couldn't shake the oppressive feeling their mountain of debt gave them. Before they even said “I do” they had a mortgage, student loans, car debt, and consumer debt totaling over $300,000. As a numbers guy – Brennan is a CPA – he couldn't live like this. Fast forward to today, the Schlagbaums have paid off all that debt and eclipsed $1,000,000 net worth. During their journey, it became clear to Brennan that he was meant to help others realize and achieve the same financial success that they had achieved, thus the Budgetdog empire was born. Currently, Brennan and his wife Erin live in Dallas, Texas, with their daughter Logan Lee, with another on the way. Connect with Brennan: https://www.instagram.com/budgetdog/ https://twitter.com/Budgetdog_ https://www.youtube.com/c/Budgetdog https://www.tiktok.com/@budgetdog_ https://www.facebook.com/budgetdog/ https://www.linkedin.com/in/brennan-schlagbaum-cpa-1b2b7338/ Connect with Lauren: ⁠https://twitter.com/AdultingIsEasy⁠ ⁠https://www.instagram.com/adultingiseasyreal/⁠ ⁠https://www.housemoneymedia.com/

CASH KID
Advisor Advice Part 2

CASH KID

Play Episode Listen Later Sep 4, 2023 12:59


Want some advice? You'll find it in this episode where we interview Financial Advisor Jon Cunningham on best practices to teach kids financial skills and tips to start investing early. Don't miss out! This episode is especially great for parents and kids to listen together. This is a two part series so stay tuned! Learn more about your ad choices. Visit megaphone.fm/adchoices Transcript Advisor Advice Part 2 Welcome back to another episode of the Cash Kid Podcast. If you haven’t already, be sure to visit our website at cashkidpodcast.com for more resources and links to past episodes. Follow us on Instagram as well. Today, is part 2 of our “Advisor Advice” interview with financial advisor Mr. Jon Cunningham. If you missed the first part of my interview with him, definitely go back and listen to it first. So much great advice… and he’s got more to share. The Cash Kid Podcast is underway. (music) Intro tease: So you’ve got some cash. Maybe from an allowance, or that money your grandma gave you for your 7th birthday (Here you go sweetie.) Thanks grandma. Whatever it is, what are you going to do with it? Spend it, hide it away… or maybe invest it? Let’s start learning how to make that money grow. Time to learn how to be a cash kid. (cash register) Alright, let’s jump right back into part 2 of our interview with Mr. Jon Cunningham. (music) Cash Kid - So what are some ways that kids can learn about personal finance in the stock market? Jon - Yeah, another great question. You know, I think it's very important someone once told me to always preserve precious capital. And so as you're working as a young person and you're working hard and you're sweating outside maybe mowing grass or doing chores for your parents, the last thing you want to do is earn that money and then lose it. So it's important that you really understand how investments and how the stock market works before you just put money in an account and buy a stock and hope for the best, right? Cash Kid - Definitely. Jon - You know, even when I was in high school, we had a stock market simulation game. And so there are programs out there that will basically give you plain money. So it's not real money. You're not subjecting your own money to risk, but you're buying stocks with this, you know, fake money and not real stocks. But it's a way to simulate how stocks work in the buying and the selling of stocks and researching them without putting money at risk. So that's an easy and safe way for a young person to really understand and learn the market without actually subjecting their money to risk of loss. Cash Kid- Yeah. In our previous episode we've talked about what is the stock market game. And so we talked with one of my teachers that introduced that to me. Jon - Oh cool. Cash Kid - That's how I learned about the stock market. And so that's what our previous episode was about. What are some ways kids can start earning, saving and investing their money? Jon - Yeah, this is going to require a little bit of involvement from from Mom and Dad. But until you reach the age of adulthood, you really can't open an investment account without the involvement of a parent or guardian. So their accounts called up UTMAs Uniformed Transfer of Minors Accounts, and these are accounts that are owned by a guardian or a parent for your benefit. And money can go into these investment accounts and certainly can be invested for your benefit. However, the parent owns this account, so the funds have to be used for you and for your benefit and someday would have to be transferred to you when you became an adult. So this would be a safe way. I'd say safe. This could be a way to open an account with parental oversight that you can invest some of your money in the market that eventually could be for your benefit. Cash Kid - Yeah. Do you think there are any, like, jobs out there that kids could do? Jon - Oh, absolutely. I mean, I have three kids. I love it when they work for me. And I think I think oftentimes kids try to find creative ways of forming a business early, whether it be mowing grass or everything from that to pressure washing, things like that. And oftentimes it's tough to find prospects. It's tough to find customers. It takes time and energy and money and overhead to to make that income. When oftentimes you can find things in your own backyard that you can do for your parents that they would really appreciate and also be willing to pay you some money to do it. And so certainly, I think it's a good thing for kids to have chores and allowances, but then also to work for for that money. So that could be something you talk to your parents about and say, hey, I want to make, you know, $25 a month, you know, what can I do around the house to make that kind of money? And I'm sure, you know, most parents would be happy to oblige. Cash Kid - Yes. Now, I assume you would agree that parents can play a big role in the financial success of kids. I mean, kids are always thinking of a way to pick up spending habits. What ways can parents be involved in helping set their kids on a healthy financial path? Jon - Yeah Cash Kid another great question. One of the biggest issues with with our economy right now is just that more with the amount of student loan debt that's out there. To understand what a student loan is, when a young person wants to go to college and they don't have the the cash or the resources to pay for tuition, room and board and all those types of things, they'll go to lending and lending institutions to get a loan to cover those costs. And often time, oftentimes interest and payments are deferred on those loans until that person graduates. So the risk associated with that is the student goes to college, incurs this debt and they graduate and number one maybe they can't find a job or they can't find a job that pays enough money for them to cover the student loan debt, plus all their other living expenses that's out there. So part of the way that parents can help their their kids be on a on a good financial trajectory is to make sure that they're making little decisions early on in their children's lives by setting money aside in a college related accounts like 529 plans or or other investment accounts that are earmarked for for their kids college. So with some of the listeners that you might be having here, a question could be you know, what can I be doing to set money aside that could help my parents pay for my college someday? Or maybe it's, you know, what can I be doing to do really well in school that I get what's called a scholarship and some of my tuition might be covered and all that could be helpful and ways of setting yourselves up financially for the future. But then also to I think it's important for parents just to be good examples and show good stewardship and be good stewards of the cash flow and educate kids on just simply what's a credit card mean or what's a checking account, and then what can we be doing to ensure I'm building a good credit score, even at a young age. Just kind of having transparent conversations like that I think are really important. Cash Kid - Yes. So, um, I'm sure you tell this to your partners in a lot of like work that you do. So when you educate others about early investing, why do you think early investing is important? Jon - Well, that's a great question. So I was prepared to answer that one. So yeah, when you look at the cost of waiting and waiting on investing, it's very expensive. So take an example of a ten year old child that says, hey, I have $600 a year or $50 a month that I want to invest and I'm going to invest that money and hopefully earn 6% growth for the next 55 years. So you're looking at starting at ten years old to age 65 to 55 years. Guess how much money that person has in 55 years? They have $236,503. So they started at age ten and saved the exact same amount between age ten and age 65. So now let's fast forward and say, hey, a 15 year old says, Hey, I want to do the exact same thing. I want to set aside $50 a month or $600 per year for the next 50 years until I'm 65 years old. Guess how much money that person has? They have $174,201.54, assuming they can make 6% every single year. The cost difference of a little over $62,000. So you see there's a significant cost to waiting and delaying, saving and investing at a young age. Now, there's not many ten year olds that can set aside 600 bucks a year. You know, consistently. That's a lot of work and that's a lot of chores. And and that's understandable. But just that exercise shows you that it's very important to start early, especially when you get out of college and you start making an income to really begin diligently saving and setting money aside for the future and not delaying because it is expensive. Cash Kid - Right? So what age would you say somebody could start investing? Jon - Well, really, it could it could start at any time with the assistance of Mom and Dad or guardian. But typically you have to be at age 18 to open an account by yourself and have an account individually owned by by just yourself. So you have to be 18 years old to have your own account. But again, going back to the previous point, you can open what's called UTMA with the assistance of Mom and Dad. Cash Kid - Right. So what resources would you suggest about researching companies to invest or find an advisor like yourself to get help? Jon - Yeah, that's a great question. You know, oftentimes if you just simply ask your Mom and Dad say, hey, you know, do we have a financial advisor? And chances are they're going to say yes. And oftentimes they'd be happy to talk to people like you Cash Kid and your little listeners for sure, especially if they have good questions. So I think that's step one just to kind of say, hey, is there an existing relationship that I can take advantage of and ask them questions, number one. Number two, if that's not available, you know, Google Finance is something that's a great tool. You can go on and check any stock and you can see all the publicly offered information like revenue and expenses and have it done all of these types of things for the marketplace. So Google finance is a very good and free resource to research and look into the stocks that you have interest in. Cash Kid - That's it for today. We appreciate your time and your expertise. Thank you for joining us on the call today and boosting the financial knowledge of the fellow cash kids everywhere. Remember that anybody can be a cash kid. You just have to learn how to become one. Jon - Thanks, Cash Kid (music) Thank you Mr. Jon. Wow, I’ve got some more homework to do for sure as I learned a lot from Mr. Jon and excited to think of the payout to investing early and knowing how to be financial smart early in life. More great interviews like this one in future episodes. Remember to visit us at the cashkidpodcast.com for more helpful tools, information, and past episodes. Cash Kid, out! Disclaimer: The information presented represents the views and opinions of the guests. This show does not intend to provide personal investment advice through this podcast. This content has been made for informational and educational purposes only. To make a full and informed investment decision, we advise you to speak with a financial advisor and for kids, definitely your parents first before investing.

Your Money, Your Wealth
RSU, Mutual Funds, Bonds, and Annuities - 442

Your Money, Your Wealth

Play Episode Listen Later Aug 15, 2023 52:02


What's the best strategy for E-Dog's restricted stock units with his employer, how are RSUs taxed, and how do Roth conversions fit into the mix? Plus, should Jay in Raleigh liquidate his annuities or follow “Stan the Annuity Man's” advice and take the annual payments? Elisa wants to know how a mutual fund portfolio would work in retirement, and what's a good way for listener Joe to invest in bonds in a taxable account to bring his portfolio back into proper balance? Finally, the fellas spitball on Medicare savings vs. Roth conversions for David, and an unrealized gain strategy on an UTMA education savings account for Jay in California. Timestamps: 00:50 - Restricted Stock Units: RSU Spitball Analysis (E-Dog, Boulder, CO) 14:44 - Annuity Retirement Spitball Analysis (Jay, Raleigh, NC) 26:36 - How Would a Mutual Fund Portfolio Work in Retirement? (Elisa) 31:13 - Asset Location: How to Invest in Bonds in a Taxable Account to Rebalance? (Joe) 35:09 - Medicare Savings Vs. Roth Conversions (David, Logan, NM) 40:04 - UTMA College Savings Unrealized Gain Strategy (Jay, CA) 47:05 - The Derails Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-442 Why Asset Location Matters - free guide 6th Annual YMYW Podcast Survey - one randomly-chosen participant will win a $100 Amazon e-gift card! Episode Transcript Ask Joe & Big Al On Air for your Retirement Spitball Analysis

Financial Revelations
Tug of War

Financial Revelations

Play Episode Listen Later Jul 27, 2023 16:06


Thank you to everyone who donated to the Well Drill in the Amazon last month. If anyone would like to contribute for future Mission trips or the church build, please go to the following website: www.nativosusa.org This week on Financial Revelations David discusses the rate hike and the tug of war between the Fed/Chair Powell and President Biden. David also answers 2 listener questions: I've recently left my job, should I rollover my 401(k) to an IRA? Which is better: a 529 plan or a UGMA/UTMA? As always you can listen to David every Thursday from 8AM - 9AM on WCRF Cleveland 103.3 or on the Moody Radio App. Email your questions to Kory@epsf.com Twitter @skibucks1

Money Girl's Quick and Dirty Tips for a Richer Life
UGMA and UTMA Accounts—Understanding the Benefits and Drawbacks

Money Girl's Quick and Dirty Tips for a Richer Life

Play Episode Listen Later Jul 26, 2023 20:03


Laura answers a listener's question about investing for a young child and reviews the pros and cons of UGMA and UTMA accounts for minors.Money Girl is hosted by Laura Adams. A transcript is available at Simplecast.Have a money question? Send an email to money@quickanddirtytips.com or leave a voicemail at 302-365-0308.Find Money Girl on Facebook and Twitter, or subscribe to the newsletter for more personal finance tips.Money Girl is a part of Quick and Dirty Tips.Links: https://www.quickanddirtytips.com/https://www.quickanddirtytips.com/money-girl-newsletterhttps://www.facebook.com/MoneyGirlQDThttps://twitter.com/LauraAdamshttps://lauradadams.com/ 

One For The Money
Investing for Your Kids - Giving the Power of Time, Ep #40

One For The Money

Play Episode Listen Later Jun 15, 2023 19:55


In the One for the Money podcast, we've been discussing finances and children in our recent episodes. In the previous episode, we covered lessons for kids a few years away from adulthood. In this episode, we will focus on investing for kids only a few years old. Don't miss out on the end of the episode, where we'll discuss how a new law has made 529s even more valuable.In this episode...Improving investment returns with time [01:56]UTMAs and UGMAs [03:43]Setting up a kid Roth [08:10]The power of 529s [11:54]Turning a 539 into a Roth IRA for your kids [15:35]Time is crucialMoney invested in the stock market should always be for the long term. The short term poses a high level of risk, while the long term yields significant rewards. The amount of time invested in the market profoundly affects returns, as it is the exponent in the compound interest formula. Compared to other factors, time has the most significant impact on investment returns.Maintaining a healthy lifestyle through diet and exercise can add time to our lives, but we cannot go back in time and invest earlier. However, we can encourage our children to invest as soon as possible to increase their investment time horizons.Investments for childrenThe Uniform Transfers to Minors Act (UTMA) is a law that permits minors to receive gifts without the assistance of a guardian or trustee. The gifts may include money, patents, royalties, real estate, and fine art. Children can receive these gifts directly without an additional step involving parents, guardians, or trustees. While most of these gifts are arranged by parents to provide assets for their children, some minors have a guardian or trustee instead. An extension to UTMA is UGMA (Uniform Gifts to Minors Act), which expands the types of assets you can give. While UGMA only allows financial products like stocks, bonds, and mutual funds, UTMA includes both financial and physical assets. Once the child reaches legal age, they no longer require a custodian and can spend the money as they please. The age they become legally independent is determined by their state of residence, usually 18 or 21 years old, but each state has the option to adopt and amend the UTMA.College savings and 529sA college savings account, also known as a 529, is a great investment option for our children's future. Currently, the total student loan debt in the US is a staggering $1.7 trillion, making it the second-highest consumer debt category after mortgage debt. Surprisingly, due to government regulations and unintended consequences, Americans owe more money on school loans than credit cards and auto loans combined.529s may seem simple at first glance, but they offer a range of benefits beyond their basic strategy. You can designate any person as a beneficiary and even save for future college expenses or for children who have not yet been born. Additionally, changing the beneficiary is allowed at any time. Parents and grandparents can start saving now to ensure a brighter financial future for their heirs, taking advantage of the power of compounding interest.Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.Resources & People MentionedThe Psychology of Money: Timeless lessons on wealth, greed, and happinessUniform Transfers to Minors Act (UTMA): What It Is, How It WorksUGMA-UTMA Account: The Benefits of One | Vanguard

Easy Peasy Finance for Kids and Beginners
What is a Custodial Account / Custodial Brokerage Account – Easy Peasy Finance for Kids and Beginners – Podcast

Easy Peasy Finance for Kids and Beginners

Play Episode Listen Later Jun 5, 2023 3:30


Everything you need to know about custodial accounts: What is a custodial account, Are there different types of custodial accounts (UGMA and UTMA), How does a custodial account work, What are the advantages of a custodial account, Are there any disadvantages of a custodial account, and more. Show notes and transcript at What is a ... Read More

Talking Real Money
Big Day for Q&A

Talking Real Money

Play Episode Listen Later May 12, 2023 29:05


This is a particularly good Friday question and answer session: When should a portfolio be rebalanced? What is the difference between VT and VTWAX? Her CFP uses Pershing. Are they okay? Where should a small child's UTMA be invested? Where should emergcy money be invested for safety? How to we feel about Rick Ferri saying that small cap value investing has failed? Learn more about your ad choices. Visit megaphone.fm/adchoices

Taming the High Cost of College! :   Financial Aid | FAFSA | Student Loans | Scholarships | Tax | Saving | Investing | Grants

Learn how 529 plans compare to other college investment options, the pros and cons of each, and strategies to help you potentially maximize your benefits. Listen now:  https://tamingthehighcostofcollege.com/thcc-529-plan-series-ep-3-529-plans-and-other-college-savings-plan *** Check out the FREE Scholarship Guide For Busy Parents and College Money Report:  https://courses.tamingthehighcostofcollege.com/p/scholarship-guide-for-busy-parents https://tamingthehighcostofcollege.com/college-money-report/ *** We care about what you think and want to help you out, so we'd appreciate you reviewing us on Apple, Stitcher, or on your favorite podcast platform!

The College Investor Audio Show
UTMA and UGMA Accounts: Pros, Cons, Rules

The College Investor Audio Show

Play Episode Listen Later Mar 17, 2023 10:25


Uniform Gift to Minors Act (UGMA) Accounts and Uniform Transfers to Minors Act (UTMA) Accounts provide an investment account for children. The post UTMA and UGMA Accounts: Pros, Cons, Rules appeared first on The College Investor.

The College Investor Audio Show
UTMA and UGMA Accounts: Pros, Cons, Rules

The College Investor Audio Show

Play Episode Listen Later Mar 17, 2023 10:25


Uniform Gift to Minors Act (UGMA) Accounts and Uniform Transfers to Minors Act (UTMA) Accounts provide an investment account for children.

Charter Moms Chats
College Savings, With LaSondra Rhodes

Charter Moms Chats

Play Episode Listen Later Mar 8, 2023 30:09


Having children causes parents to think differently about financial planning. How can we save up enough money to help pay for them to go to college? LaSondra Rhodes, Financial Professional with New York Life, offers advice about college savings accounts, from 529 plans to custodial accounts and more. LaSondra is planning ahead for her own three children—including a set of twins—and wants families to know about their options for education funding.

Financial Revelations
(EP 68) Listener Questions

Financial Revelations

Play Episode Listen Later Feb 23, 2023 19:22


Today on Financial Revelations, David talks about the FED still looming large and answers listener questions about: Roth IRA vs Traditional IRA Roth 401(k) vs Traditional 401(k) UTMA/UGMA vs 529 Plans Are bonds worth buying now? As always you can listen to David on WCRF Cleveland 103.3 every Thursday from 8AM - 9AM or on the Moody Radio App.  Email your questions to Kory@epsf.com

The Dave Ramsey Show
It Doesn't Cost Anything To Look At The Menu (Hour 3)

The Dave Ramsey Show

Play Episode Listen Later Dec 8, 2022 45:15


Dave Ramsey & Ken Coleman discuss: How much of your net worth should be invested in real estate, When you should sell rental property and pay off your mortgage, How using a 529 can be more beneficial for an UTMA when saving for your kids college, When you should prioritize saving for a home over investing, How selling the boat may be sad but being debt free brings freedom, The best way to negotiate a job change within your current company, The dangers associated with employers offering for their team to apply to be laid off. Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Radical Personal Finance
Friday Q&A: Why You Should Maximize Tax-Deferred Plans, UTMA Accounts, Dividends on Whole Life, Asset Allocation, Business, etc!

Radical Personal Finance

Play Episode Listen Later Dec 5, 2022 131:59


On today's Friday Q&A show we cover:  Should I really maximize my investments into tax-deferred plans? 15:38 What do I need to do with the UTMA account I have for my children? 25:25 Why did my dividend disappear from my whole life policy? 46:02 How do I learn about asset allocation? 1:02:24 How do I size and structure my children's life insurance policies? 1:21:15 Should I start a business while having young children? 1:35:00 How can I teach my non-reading children a foreign language? 1:54:20 Hw do I figure out if I entrepreneurship is right for me?

Jewish Latin Princess
292: Ask Yael

Jewish Latin Princess

Play Episode Listen Later Dec 4, 2022 23:00


B”H In this episode of Ask Yael: The Gate of Trust instructs us not to be like those who ask G-d for collateral.  Does this fit in with saving for our short term and long term goals? Yael gives some more details on the benefits of a custodial Roth IRA, benefits over a custodial traditional IRA, and an UTMA account. To get on the waiting list for G-d Wants You The post 292: Ask Yael appeared first on Jewish Latin Princess.

trust roth ira utma jewish latin princess
A Sunny Side Up Life Podcast
EP. 9 Why Forcing Your Kids To Go To College Is Stupid, Starting A Launching Fund & Alternatives To Student Loan Debt

A Sunny Side Up Life Podcast

Play Episode Listen Later Oct 27, 2022 41:24


In this solo episode, Sami deconstructs the harmful narrative of college being the one and only choice after high school and how she is using launching funds as an alternative in her own family.  While statistically college increases income and earning potential over a lifetime, we must consider if this is the right path for our children and the high-stake resources needed to earn a high education degree. If you've ever felt conflicted about saving for your kids' future, this episode is for you. In this episode, Sami chats about: Statistics on student loan debt + earning potential of high school graduates vs. those holding Bachelors Degrees Alternatives to student loan debt and post high school education including trade schools, scholarships, etc. Case study: Sami's college story in comparison to her husband's career  The power of a launching fund instead of a traditional college savings fund and what a launching fund is  529 plans, UTMA, UGMA, traditional brokerage accounts to save for college + more MENTIONED IN THE EPISODE: https://www.veefrugalfox.com/blog/forcing-your-kids-to-go-to-college-is-stupid https://money.com/best-college-savings-account/ https://journeytolaunch.com/episode272/  PAST EPISODES YOU'LL ENJOY: PAYING OFF $600K+ OF DEBT, HAVING A 70% SAVINGS RATE, & THE INTERSECTIONALITY OF MONEY + INTENTIONAL LIVING WITH RACHEL RAINBOLT PAYING OFF $211,000 OF DEBT, SAYING NO TO SIDE HUSTLES, + STUDENT LOAN FORGIVENESS WITH NIKA BOOTH ASSUL RESOURCES: 1:1 Coaching With Sami: Apply today 2023 Powersheets: 2023 Goal Planner YouTube: Subscribe for free  Instagram: Follow me on the ‘gram  Facebook: Follow me on Facebook The Sunny Sqad: Join the VIP Facebook Group SHOW INFORMATION: A Sunny Side Up Life A Sunny Side Up Life Podcast is a show for women who are ready to live an abundant life full of freedom + positivity. Sami Womack, nationally recognized money expert and finance coach guides listeners toward breaking free from survival mode, gaining financial freedom, staying motivated, and focusing on what matters most. Learn more at: https://www.asunnysideuplife.com    HOST BIO: Sami Womack Sami Womack is the brains behind A Sunny Side Up Life. Her weekly podcast has been downloaded over 250,000 times, and her story has been featured on YNAB, Debt.com, The Purpose Show with Allie Casazza, and The His & Her Money Show. When she's not downing caramel coffee or homeschooling her daughters, she's creating content, collaborating with finance/minimalist organizations, and inspiring women all over the world to live an intentional life. She began this journey with her high school sweetheart, Daniel, and a debt price tag of $490,000. They both took control of their family's finances by downsizing, budgeting, and changing habits. From this experience, A Sunny Side Up Life was born. DISCLAIMER(S): This show may contain affiliate links or links from our advertisers where I earn a commission or direct payment. Opinions are the creators alone. Information shared on this podcast is for entertainment purposes only and should not be considered as professional advice. CREDITS: Audio Engineer + Editor: Garrett Davis Podcast Support + Artwork: Weir Digital Marketing Research: Vee Weir

Jewish Latin Princess
279: Ask Yael

Jewish Latin Princess

Play Episode Listen Later Sep 16, 2022 29:54


B”H This week Yael answers: How much financial responsibility to give a college aged child? How to help them through that transition, especially when managing their UTMA account? Should I buy a whole life insurance policy for my children as a way to build their wealth? When should I start investing for my child's college education and should I invest in my states pre-paid college plan? I'm in Latin America, The post 279: Ask Yael appeared first on Jewish Latin Princess.

latin america utma jewish latin princess
Powering Your Retirement Radio
Tax Birthdays and Milestones

Powering Your Retirement Radio

Play Episode Listen Later Sep 15, 2022 18:43


Welcome back to Powering Your Retirement Radio. In the episode, we will discuss the different Milestones that certain birthdays bring.  0 to 18 years - Kiddie Tax Issues 18+ - Claiming children as dependents 18 or 21, even 25 - Age of Majority for UTMA and UGMA accounts 26 - "adult" children of parent's healthcare The Gap years - College to Age 50 - Retirement Savings 50+- "Catch-Up" Contributions - 401k, 403b, IRA, Roth IRA 55+- "early" retirement - Penalty Free Distributions from company plans, in the right circumstances. 59 ½ - Access to all retirement assets penalty-free 60+ - Ability to claim Widow Benefits (if applicable) 62+ - Social Security Benefit claiming 65+ - Medicare sign-up and annual renewals ~68+ - Future RMD (Required Minimum Distribution) Planning 70 ½+ - QCD (Qualified Charitable Distributions), avoids sneaky taxes 72+ - RMD (Required Minimum Distribution) start   Visit the Podcast site: https://poweringyourretirement.com/2022/09/15/tax-birthdays-and-milestones

Investor Mama
Episode #79: What Type of Savings Account Should You Have for Your Kid with Autumn Lax from Drucker Wealth

Investor Mama

Play Episode Listen Later Sep 1, 2022 41:11


Not sure what account you should open up for your child? Check out this week's episode where Autumn Lax from Drucker Wealth goes through the benefits and drawback between 529 accounts, UTMA, and other ways to save for your kids. You won't want to miss it!

Physician Family Financial Advisors Podcast
Are UTMAs a no-no for physician mommies and daddies?

Physician Family Financial Advisors Podcast

Play Episode Listen Later Jul 27, 2022 13:02


UTMAs can seem appealing to a physician for the tax break. However, using this account to hide money and present it to a child when they reach adulthood is a no-no. So then are UTMAs still a valuable tool for physician moms and dads? How might they help physicians in the process of giving their children money? Tune in today to learn more about the UTMA account and the best way to use it for physician children.    ASK A QUESTION   Send your questions about taxes, investing, extra money, retirement, college, and financial parenting to podcast@physicianfamily.com or call the Physician Family Answer Line at (503) 308-8733.   IN THIS EPISODE   [0:33] What is a UTMA and how does the investment work? [3:13] What happens when your child becomes an adult? [4:47] Why do people use UTMAs? How to do it the right way. [8:47] Wrapping a ROTH into the UTMA.   NOTICE   Physician Family Financial Advisors Inc., a registered investment advisor, has reasonable belief that the information and content as a whole does not include any false or materially misleading statements or omissions of facts regarding services, investments, or client experience. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and unless otherwise stated, are not guaranteed. Information expressed does not take into account the specific situation or objectives of individuals and is not intended as recommendations appropriate for all individuals. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation.  Past performance is not indicative of future performance.

Your Money, Your Wealth
Pay Tax on This Move Now to Potentially Have More to Spend Later - 388

Your Money, Your Wealth

Play Episode Listen Later Jul 26, 2022 41:14


The time may be right for a giant Roth IRA conversion, especially now while the market is down, to potentially give you more money to spend in retirement. How does that work with long-term capital gains and dividends, and how much should you convert to Roth, and when, and how? Plus, deciding how to invest 529 plan college savings, whether to save to pre-tax or post-tax retirement accounts, and the ever-popular Backdoor Roth strategy. Show notes, free financial resources, Ask Joe & Big Al On Air: https://bizlink.to/ymyw-388

The Dreamers Podcast
How To Leverage Your Skills and Income to Build Generational Wealth with Ellie Diop, Founder of Ellie Talks Money

The Dreamers Podcast

Play Episode Listen Later Jun 28, 2022 34:14


With a recession looming, it's even more critical to solidify your finances. Some of the ways you can do that is by not relying on just one income stream and putting your money to work by investing. Joining us again on the show this week is Ellie Diop, Founder of “Ellie Talks Money” and Ellievated Academy. Ellie shares tips to help you identify your gifts and monetize yourself. She highlights the importance of having multiple income streams, investing early in your children's future, and talks about her mission to educate women on how to leverage entrepreneurship and financial literacy to build wealth.  In this episode, Ellie Diop discusses:   How to earn more by monetizing yourselfThe importance of having multiple income streamsSide hustles you can start under $1KTools she uses to build wealth for her kids How she is earning extra income through Airbnb and TuroInvesting in real estate If you enjoyed today's episode, here's what you can do to support me and help more Dreamers discover the podcast:Leave a review on Apple Podcasts or wherever you listen to podcasts. I read every single review. I will select one review to read on the podcast every month.Follow the podcast, so you never miss an episode: Apple Podcasts | Google Podcasts | Spotify | iHeart Radio | Amazon Music | Listen NotesShare the podcast with your family, friends, and co-workers.Tag the podcast on Instagram @thedreamers.podcast and let me know what you like about it.Would you rather watch this episode? Go to our YouTube channel to enjoy the video version. And while you're at it, click the bell to subscribe so you can get notified when a new episode comes out.Connect with Anne-Lyse:Website InstagramInstagram (Personal)Other Episodes You Might LikeHow to build a 7-figure online business and avoid the lifestyle creep with Ellie DiopHow to Grow and Monetize Social Media to Scale your Business with Ellie Diop "Ellie Talks Money"How to Build a Six-Figure Side Hustle and Make Your Money Work for You with Marc RussellKey Tips to Start a Side Hustle with Koereyelle Dubose

The Dreamers Podcast
How Saving and Investment Diversification Can Help Parents Secure Their Kids' Future with Ksenia Yudina, Founder of UNest

The Dreamers Podcast

Play Episode Listen Later Jun 21, 2022 28:14 Transcription Available


One of the key concerns most parents share is how to build a bright future for their children.  Parents often want to help fund their kids' college education or give them somewhat of a financial cushion to help them start their adult life. One thing that can help prepare your kids' future is saving and investing for them. Ksenia Yudina, the founder and CEO of UNest, has created a solution to boost every family's savings by launching an app and investment account. Ksenia talks about her journey moving to the United States when she was 18 years old with $500 in her pocket, obtaining multiple degrees, studying and being part of the male-dominated Financial Services Industry, and building a Fintech startup that helps parents build wealth for their children.In this episode, Ksenia Yudina discusses:   The importance of savings and investments diversificationWhy parents should consider investing in UTMA and UGMA accountsInvesting in crypto for your kids' futureChallenges that parents face when it comes to investing for their kids' futureHer journey to success in male-dominated industries: financial services and FintechChallenges she overcame to raise capital to fund her Fintech startupIf you enjoyed today's episode, here's what you can do to support me and help more Dreamers discover the podcast:Leave a review on Apple Podcasts or wherever you listen to podcasts. I read every single review. I will select one review to read on the podcast every month.Follow the podcast, so you never miss an episode: Apple Podcasts | Google Podcasts | Spotify | iHeart Radio | Amazon Music | Listen NotesShare the podcast with your family, friends, and co-workers.Tag the podcast on Instagram @thedreamers.podcast and let me know what you like about it.Would you rather watch this episode? Go to our YouTube channel to enjoy the video version. And while you're at it, click the bell to subscribe so you can get notified when a new episode comes out.Connect with Anne-Lyse:Website InstagramInstagram (Personal) Other Episodes You Might LikeHow to Build Wealth, Create a Solid Succession Plan and Achieve Generational Longevity with Lauren MillerWhat You Need to Know About Blockchain, Crypto, and NFTs with Dr. Jatali Bellanton

Simplify and Enjoy
Kids and Money: How to Teach Them About Bank and Investing Accounts

Simplify and Enjoy

Play Episode Listen Later Jun 8, 2022 16:27


Want to help your kids get comfortable and confident with managing their money? Today we'll talk about giving them a head start by opening up bank and investing accounts with them! Helping Your Teen Open a Bank Account and Invest Do you remember your first bank account? I think I was in 6th grade and there was a program with a local bank where they would come in every two weeks or so and open up a school branch in the library.  Different grades were assigned a time slot and if your parents had opened an account for you, you could go in to deposit, withdraw, or just check the balance.  It was super basic, but let me tell you, everyone was excited. Why? Because it was their money.  Later when I started working, my mom and I went to her credit union – she's a teacher – and I opened my checking account.  Each paycheck, I set aside something for savings, something for my checking, and kept the rest for fun.  These early lessons didn't involve a ton of money or anything complicated, but they gave me confidence when it came to finances.  Earlier this year we had an episode about essential financial lessons to pass on to your kids.  This time I want to move a bit forward from those initial conversations to giving them tools to practice their financial skills such as having a bank and investing account.  Today we'll dive into how to help your kids become financially savvy. In this episode, we'll dive into: Why your kid should have a bank account and when to get them started Three types of accounts you can use to help your kid get started with investing Essential investment lessons to pass on Hope you enjoy it! Resources to Teach Your Kids About Money If you're looking for ideas and resources to prepare your kids to be money-savvy, here are some to check out!  Best Budget and Money Apps: Personal Capital, Tiller, Mint Grab Your Copy: Jumpstart Your Marriage and Your Money How to Teach Your Kids About Money (w/o Being Boring!) The Opposite of Spoiled: Teaching Kids about Money (and More) Cash Crunch Junior: Have fun while learning about money with this board game!  FamZoo: The family money management system we use Goalsetter: Education-based banking for the whole family UTMA vs 529: What is the Difference and Which One is the Best? Can My 16-Year Old Contribute to a Roth IRA? Investing For Kids: How to Give Them a Head Start If you want to chat some more about creating better money habits, questions, or share your own tips please join us over at Thriving Families on Facebook. Thank You to Our Sponsor Coastal! Support for this podcast comes from Coastal Credit Union! If you're living in the Raleigh Durham area and looking to bank better, come check out Coastal today. As a credit union, Coastal serves its members first including an annual loyalty bonus. We've been members for years and love their service and competitive rates on checking and savings accounts! Rollover Your 401(k) Easily with Capitalize We're grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier.  Did you know that it's estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years.  And because of the Great Resignation, you or someone you know might be changing jobs even more  It's an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with? One huge benefit with an IRA is you get to choose how your money is invested, not your old employer.  If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.   With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf.  Find out how and get started today!  Support the Podcast! Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it. Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and becoming financially free, please share. Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple, Spotify, or Audible. Buy me a cup of coffee! Photos by mentatdgt and Monstera

The Affluent Entrepreneur Show
BONUS - How to Pay For College (UTMA, UGMA, 529, Roth IRA & More)

The Affluent Entrepreneur Show

Play Episode Listen Later Apr 22, 2022 47:04


How to Pay For College. Let's face it, education can be a costly pursuit. But did you know that it can literally cost you your financial future and freedom? There are so many options to pay for college AND bring our children along the financial literacy path to set them up for life. In this episode, I walk through much of what you need to consider. What You'll Get In This Episode: Why student loans can destroy you When to use an UTMA, UGMA account for your kids The risks of UTMA and UGMA accounts Other ways to teach wealth and create a college fund ★★★ TAKE THE FINANCIAL LIBERATION ASSESSMENT ★★★ Take this free assessment to see where you are on the path to financial freedom and what your next steps to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com ★ RECOMMENDED VIDEOS FOR YOU ★ If you liked this video, you'll love these ones: What To Do With Your Cash - https://youtu.be/voMnEcuFxIY Getting Out of Debt The Affluence Way - https://youtu.be/WkBJzAnVIZg Overcome Your Money Stories - https://youtu.be/QOPFrUtUaGo Pricing & Getting Paid Your Value - https://youtu.be/4ORzXMqofjM ★ OTHER RESOURCES ★ 7 Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.com Affluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/ My website https://melabraham.com/ Book: Mel H. Abraham - The Entrepreneur's Solution: The Modern Millionaire's Path to More Profit, Fans and Freedom https://www.melabraham.com/book/ Find me on Facebook https://www.facebook.com/melhabraham/ Find me on Instagram https://www.instagram.com/melabraham9/ Find me on LinkedIn https://www.linkedin.com/in/melhabraham/ Find me on Twitter https://twitter.com/MelHAb Find me on YouTube http://www.youtube.com/user/MelHAbraham