How To Invest For Your Kids (Without Going Broke)

The Rich Immigrant

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This topic is near to my heart, and yours I presume! As immigrants and BIPOC, especially, we know all about Black Tax but we want to lessen the burden for the next generation. In this week's episode, we talk about how to invest for your kids even if you don't have kids yet. We cover:

• Take care of yourself first (financially)
• What you teach and model is more important than how much you pass on
• Making investing and financial literacy part of everyday conversations (age-appropriate, of course)
• Open a 529 college savings account (or an RESP in Canada)
• Open a custodial account (the UK equivalent is a Junior ISA)
• Open a Roth IRA for your child as soon as they start working
• How to invest for your kids if you're just getting by and can't invest for your kids now
• The one thing you can offer your kids that is priceless - a toolkit to tackle life

I can't wait to hear and see all you do to protect, educate, and position your kids.
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