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You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth, and outrageous generosity. Matt joins us up first in Raleigh.

Matt, what is going on my friend?

How are you doing today?

Good, how can we help?

So me and my wife, we've been together for about five years married for two we just

found out a little bit ago that we are expecting and she's about 15 weeks so we've

kind of made some changes in kind of our spending

habits and being able to save up for when our child is due. One of the things that

came up was saving for college, which I'm able to provide that.

I'm in the military and I'm actually going to be passing along my 9-11 GI Bill, which is a full-right scholarship for that child.

Great.

The other thing that we were looking at was a custodial brokerage account when the child is born. Me and my wife have been kind of talking

about it, doing $100 a month until they're 18. The only thing is, is my wife is concerned that much money when our child turns 18 is going to be too much

I kind of did the math a hundred dollars with a 10% rate of return by the time they're 18 they'll have 53,000 just

trying to get an insight if that's too much money or well I personally don't think so.

If you just look at the, you know, inflation and what things could cost 20 years from now, I don't

think it would be a waste to be investing for your kids' future, whether it's in a custodial brokerage

account or a 529 plan that has tax advantages or an education savings

account. Yeah, so we looked at the 529. We think we aren't going to go that route just because I'm

able to pass along my post 9-11 GI bill full ride scholarship and it includes housing as well.

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