Investments for Newborns: Your Step-by-Step Plan for Your Baby’s Future

Marriage Kids and Money: Personal Finance for Families

Andy Hill

Investing, Business, Kids & Family, Parenting

4.9 • 604 Ratings

🗓️ 7 October 2025

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

New parents often wonder where to start when it comes to investing for their child’s future. In this episode, we walk through a 5-step plan to invest for your newborn -- from protecting your family and setting up a 529 plan to teaching your kids how to build wealth on their own. We also feature Naseema McElroy, founder of Financially Intentional, who paid off $1 million of debt and built a $1 million net worth by age 44. She shares how she’s teaching her kids about ownership, investing early, and building generational wealth. Finally, we wrap up with a fun money quiz with Calvin, testing his knowledge about investing, scholarships, and how to grow wealth over time. RESOURCES⁠Sponsors, Deals, and Partners that Support the Show Sponsors, Deals & Partners – See all current offers in one place. MKM RESOURCES Own Your Time – Pre-order my first book today! MKM Coaching – Get 1-on-1 support with your family finance journey. Coast FIRE Calculator – Find out when you can slow down or stop investing for retirement. Mortgage Payoff Calculator – See how fast you can become mortgage free. YouTube – Subscribe for free to watch videos of episodes and interviews. RECOMMENDED RESOURCES (SPONSORS & AFFILIATES) Monarch Money – Best budget app for families & couples. Empower – Free portfolio tracker. Crew – HYSA banking built for families (Get an extra 0.5% APY with my partner link). Ethos – Affordable term life insurance. Trust & Will – Convenient estate planning made easy. Podcast Chapters 00:00 – Generational wealth and the true legacy worth investing in 00:21 – Welcome and episode overview 00:49 – Net Worth Win: Naseema McElroy of Financially Intentional 01:15 – Listener question: how to invest for a newborn 01:40 – Step 1: Secure your own finances first 02:45 – Step 2: Protect your family with life insurance, a will, and credit freezes 04:30 – Step 3: Open a 529 college savings plan 06:30 – Step 4: Consider a UTMA or UGMA custodial account 08:00 – Step 5: Add a custodial Roth IRA once your child has earned income 09:20 – Teaching kids the power of compounding 10:00 – Recap: five steps for investing for newborns 11:10 – Naseema McElroy on paying off $1M of debt 13:20 – Investing for herself and her children 15:20 – Building wealth through retirement accounts and home equity 18:00 – Teaching her kids to invest and own stocks 23:00 – Employing kids in your business for Roth IRA contributions 24:00 – Why starting early matters for generational wealth 25:20 – Naseema’s advice: start now, don’t wait 26:57 – Money Quiz with Calvin Hill HOW WE MAKE MONEY + DISCLAIMER This show may contain affiliate links or links from our advertisers where we earn a commission, direct payment or products. Opinions are the creators alone. Information shared on this podcast is for entertainment purposes only and should not be considered as professional advice. Marriage Kids and Money (www.marriagekidsandmoney.com) is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com. CREDITS Podcast Artwork: Liz Theresa Editor: Johnny Sohl Podcast Support: Andy Hill Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:25.2	Subscribe to smarter driving.
0:26.9	Find out more at drivepivotal.com slash radio.
0:31.2	Generational wealth isn't just about leaving a pile of money behind.
0:35.3	It's about raising children who know how to manage money,
0:38.8	build their own wealth, and create freedom for their future families. That's the legacy
0:44.2	worth investing in.
0:51.4	This show is dedicated to helping you, strengthen your family tree, and live financially free.
0:57.0	Welcome to the Marriage Kids and Money podcast, everybody.
0:59.0	This is Andy Hill.
1:00.4	And today we're going to do three different things.
1:02.8	First, we'll be answering a question from Aubrey about the best way to invest for a newborn baby.
1:09.6	Second, we're back with our net worth win segment. This month,
1:12.5	we're featuring Nassima McElroy from California and from her popular financially intentional
1:18.7	platform. Naseema has grown her family's net worth to over $1 million by age 44. We're going to learn
1:26.1	how she did it and what her plans are for the future. And last but not least, we're back with another money quiz. I'll be quizzing my son Calvin with some fun money questions. And we're going to test his knowledge. That way he can keep growing his generational wealth and happiness. And hopefully, hopefully, hopefully you can play along at home too.
	...

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