Do You Really Need an Emergency Fund?
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 9 August 2021
⏱️ 20 minutes
🧾️ Download transcript
Summary
Transcript
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| 0:00.0 | It's Brian Preston, the money guy, restoring order to your financial chaos, retirement, |
| 0:07.0 | investing, taxes. |
| 0:09.0 | You've got financial questions, he's got financial answers. |
| 0:12.6 | It's Brian Preston, the money guy. |
| 0:16.4 | Brian this next question is one, I don't know the normally I'd pick this, but man I'm |
| 0:19.0 | going to pick it because we've gotten this 15 times in the last two weeks. |
| 0:22.0 | I don't know why. |
| 0:23.0 | There's just people on people's minds. |
| 0:24.5 | This is from Reena. |
| 0:26.4 | If my 10 year old and I'm going to do this, I'm going to do air quotes. |
| 0:29.7 | If my 10 year old works and has $30 monthly to invest, parentheses, Roth IRA, is there an |
| 0:36.8 | age limit for kids to be able to open the account? |
| 0:39.5 | And is reading and recording books to audio for grandparents who have no time to read, |
| 0:46.2 | considered work? |
| 0:48.2 | So how do I employ young children? |
| 0:52.8 | What are the pitfalls and is this permissible? |
| 0:55.9 | And what is the answer that is yes or no? |
| 0:57.4 | What are some things I should think about before I go in that direction? |
| 1:00.1 | Well first, I want to get people excited about how, if you start super early, the opportunity, |
| 1:06.0 | if you got a money guy.com slash resources, we actually have some deliverables you can |
| 1:11.3 | download that show for a brand new newborn for a five year old, 10 year old, 15 year old, |
| 1:16.7 | what that money has the opportunity to become. |
... |
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