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Money Girl

4 Ways to Give a Young Child a Wealthy Future

Money Girl

Macmillan Holdings, LLC

Investing, Education, Business, Entrepreneurship, How To

4.61.8K Ratings

🗓️ 6 December 2024

⏱️ 26 minutes

🧾️ Download transcript

Summary

Laura answers a listener's questions about how to find a trustworthy financial advisor and give a young child financial freedom.

Transcript

Click on a timestamp to play from that location

0:00.0

Hey everyone, welcome back to Finance Friday. It's another special edition of Money Girl,

0:10.1

where I answer any burning money question that you have. And today's topic comes from

0:14.7

Ashley C. She left a great voicemail. Here it is.

0:19.7

Hi, Laura. My name is Ashley C. I cannot thank you enough for all of the

0:25.9

incredible content that you share with us. I am a 33-year-old new mom to a little six-month-old

0:33.3

girl. I have a question, well, two questions. The first is trying to figure out how you can

0:42.4

sift through all the financial advisors who may or may not be fiduciaries and ask questions of

0:50.3

them to know if they're going to be a good fit for you and give you honest advice.

0:55.9

I think it would be really helpful to hear how you can trust them through a series of

1:01.8

questions that you ask and that you can ask multiple advisors to then compare no.

1:07.2

And then the second question is, if I want to set up my daughter, she's six months old,

1:12.8

for financial future that enables her to have financial freedom,

1:18.1

what are the accounts and strategies you'd recommend so that I can get her up and running?

1:23.1

So far, I'm setting up a 529, and I know that there's a lot of perks with new legislation around

1:32.5

converting 529, should she not end up going to school. So I'd like to just hear, you know,

1:38.9

how to be investing and in what kind of accounts to open up. I really appreciate all of the work that you do

1:46.3

for everyone who listens. You are contributing to a series of lives that are going to be better

1:54.6

off because of the education that you afford us all to have. So thank you again, Laura.

1:59.7

Thank you so much for your generous words and great questions, Ashley. First, this podcast

2:05.1

will review several excellent ways to invest for a young child, giving them a secure financial

2:10.9

future. Then I'll discuss how to find the right financial advisor. I appreciate you listening to

2:16.7

episode 885 of Money Girl. I'm Laura

...

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