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Earn Your Leisure

5 Steps to Make Your Child a Millionaire (Start Now!)

Earn Your Leisure

EYL Network

Education, Entrepreneurship, News, Business News, Investing, Careers, Business

4.87.8K Ratings

🗓️ 14 March 2025

⏱️ 60 minutes

🧾️ Download transcript

Summary

Want to set your child up for financial success? In this episode of Earn Your Leisure, hosts Rashad Bilal and Troy Millings break down five key strategies to build generational wealth and help your child become a millionaire.


They discuss how life insurance can be used as a financial asset, allowing cash value to grow tax-free. A Roth IRA is another powerful tool, leveraging tax-free growth to turn early contributions into long-term wealth. Setting up a UTMA trust ensures assets like stocks, real estate, or cash are protected and managed responsibly. Real estate investing provides passive income and appreciation, creating a stable financial foundation. Lastly, stock gifting takes advantage of tax-free transfers to build a strong investment portfolio from an early age.


By implementing these strategies, parents can use compound interest, tax-free investments, and structured financial planning to secure their child’s financial future. The earlier you start, the greater the impact. Which strategy will you use first? Let us know in the comments!


🚨 Link to 24-Hour Stock Club Sale: https://ianinvest.com


#EarnYourLeisure #FinancialFreedom #WealthBuilding #GenerationalWealth #InvestingForKids #LifeInsurance #RothIRA #RealEstateInvesting #StockMarket #PassiveIncome #FinancialEducation



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Transcript

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0:00.0

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0:22.5

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0:26.2

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0:28.5

and proactively manage vendor risk to help your team not only get compliant, but stay compliant.

0:34.3

Stop stressing over cyber security and start focusing on growing your business. For a

0:39.5

limited time, our audience gets $1,000 off Vanta at vanta.com slash go. That's va-n-ta.com

0:47.1

slash go for $1,000 off. Because when it comes to your business, it's not just about keeping the lights on.

0:53.6

It's about keeping everything secure.

0:57.3

Yeah, yeah. We're back. Happy Thursday. Happy Thursday.

1:01.2

Yes, yes. Welcome back to the educational series. This is another one. I'm not even sure what number we're at.

1:11.8

I probably would throw around six, but I could be wrong.

1:15.3

We've covered a lot.

1:17.2

We covered how to buy a call.

1:18.3

We covered things to know before buying a home.

1:21.0

We covered, you know, process of buying a home.

1:24.1

Credit.

1:25.2

We covered taxes.

1:32.6

We've covered artificial intelligence so stocks yep so this is one that's always vitally important you know for everybody but especially for people that have a family

1:38.9

have children thinking about having children have grandchildren niece nephew god children nephew, godchildren, whoever, you know,

1:46.2

anytime you want to plan for young people's future.

1:49.2

The term generational wealth is something that gets thrown around a lot.

1:53.4

But what does that really mean, right?

...

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