Let's talk about baby bonds and generational wealth....
Belle of the Ranch
Belle of the Ranch
4.9 • 1K Ratings
🗓️ 29 June 2021
⏱️ 4 minutes
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| 0:00.0 | If just thinking about your bills makes you feel confused and disorientated, |
| 0:05.0 | like your head is full of Raspberry, |
| 0:08.0 | then you need Monzo. |
| 0:10.0 | Download your new favorite bank and pay bills from custom pots. |
| 0:15.0 | Money never felt like Monzo. |
| 0:18.0 | UK residents, Tease and see supply. |
| 0:21.0 | Well, howdy there, internet people people let's bubble again so today we're going to talk |
| 0:26.0 | about baby bonds yeah I didn't know what it was either it's cash. |
| 0:33.8 | cold hard cash. |
| 0:35.2 | The state of Connecticut has a plan and the idea is to drop $3,200 into an account for every |
| 0:41.1 | child that is born into poverty and they're going to define that by |
| 0:44.8 | whether or not the child will qualify for Medicaid or whatever they call it up there. |
| 0:51.2 | So when the child is born they get 3,200 bucks put into a savings account. |
| 0:55.0 | They can access it when they turn 18. |
| 0:57.0 | At this point, it will be 10 or 11 grand. |
| 1:00.0 | Now, this... Now this is a ready substitute for generational wealth. It's a concept that we've talked |
| 1:12.3 | about before. |
| 1:13.0 | That's the money that your family has accumulated over the years. |
| 1:19.0 | You know, your rich aunt, your uncle, your grandpa, whoever, |
| 1:22.0 | who you can call up and say hey |
| 1:23.4 | blew out my tire and don't have a spare I need to borrow a couple hundred bucks or |
| 1:27.6 | hey I want to start a business I need to borrow some real money. That's generational wealth. If you |
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