Vivian tackles one of the most important investments you'll ever make: your children's financial future. In this essential and empowering episode, she breaks down how to raise money-smart kids who understand the value of a dollar, from toddlerhood to young adulthood, without creating entitled or financially dependent children.
In this episode, you'll learn: 1. Age-appropriate money lessons for every stage—from teaching preschoolers about saving to helping teenagers understand credit, investing, and the real cost of college 2. How to talk openly about family finances with your kids without oversharing, plus the critical conversations about inheritance, privilege, and wealth that most parents avoid 3. Vivian's proven strategies for setting up accounts, trusts, and financial tools that give your kids a head start while still teaching them independence and financial responsibility
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About Me Your favorite Personal Finance & Investing Creator. Let’s talk about money, career, & getting rich. Learn more about my background in Finance on www.YourRichBFF.com and follow me for more smart money tips.
00:00 Intro: Setting Kids Up for Wealth 01:12 Opening Thoughts & Building Generational Wealth 02:04 Why Rich Parents Matter & Wealth Hacking Overview 03:17 Credit Scores for Kids: Authorized User Hack 04:38 How to Add Kids & Best Practices 06:42 529 Accounts Explained: Saving for Education 08:39 529 Benefits, Flexibility, and Tax Advantages 10:54 Custodial Roth IRAs: Early Investing for Kids 12:25 What is a Trust Fund? Defining the Basics 14:10 How Trusts Work—Control, Drama & Asset Protection 16:25 The Power of Teaching Financial Literacy 19:38 Q&A: Debt, Inheritance & Credit Tips 21:19 Tax Credits & Benefits for Parents 22:51 Tax-Advantaged Gifts & Giving Strategies 23:27 Trust Types: Revocable vs. Irrevocable 26:28 Trusts: Pros, Cons, and Legacy Benefits 29:28 Final Thoughts: Building Comfort & Taking Action
