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4 Ways You Can Make Your Children RICH - Investment Secrets for Generational Wealth | Your Rich BFF

Frames 4 Ways You Can Make Your Children RICH - Investment Secrets for Generational Wealth | Your Rich BFF

Description 4 Ways You Can Make Your Children RICH - Investment Secrets for Generational Wealth | Your Rich BFF

Comments 4 Ways You Can Make Your Children RICH - Investment Secrets for Generational Wealth | Your Rich BFF

Sounds like letting a childs ss # out into the world prematurely no? Comment from : @frank-696

Would you recommend a IUL and if yes what age would be the best age to start? Comment from : @PatsyThomas-f7g

Thank you so much 🙏🏽 Comment from : @Sick_Grim_World

the bsuluxy/b quality is very good Love it Comment from : @LoisVotaw

Dave Ramsey says don't be a slave to the leader😂😂😂😂😂 Comment from : @sanchoramirez8357

Most credit card companies don’t allow minors under 18 to build credit now…😢 Comment from : @yibinchen5597

Just discovered your channel I am an independent financial advisor and I think your content is the best out there Cheers! I agree with everything you said and would like to add one more strategy :brFund a non-qualified, tax-deferred annuity Have a loving grandparent invest aggressively in a variable annuity and list their grandkids as the beneficiaries some insurance companies allow for a "non-qualified stretch" provision This means that the owner (the grandparent) gets to defer paying capital gains taxes on the investment gains while they are alive When they pass away their grandkids can continue the contract and that favorable tax-deferred status for(most of) the contract until THEY are grandparents There's more to it, of course, but it has been a game-changer for legacy planning Wish I discovered this strategy sooner! Comment from : @TheDpmvhs

Its because now the bsuluxy/b are higher quality than the original name brands! bCOUGH CHANEL COUGH/b Comment from : @EdnaCarrasco-p5t

The advice in this video is valuable for the typical American I started investing when I was 40 back in 1998 Today, I have a decent $37M nest egg, thanks to the careful supervision of my CFP After learning all of this, my only regret is not starting earlier when I was 35 It may not seem like much but those extra 5 years are the most important Comment from : @AdamGreene222

Those smart rich ladies Did they spill the beans on who their vendors were ? 😂 bsuluxy/b Comment from : @VirginiaRamirez-l4c

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money I started investing with $120k and in the first 2 months , my portfolio was reading $274,800 Crazy right!, I decided to reinvest my profit and gets more interesting For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family Comment from : @MorrisesPattersons

I don't see anything wrong with buying bunidups/b knockoffs, some people don't have the money to buy a $3000 purse, and even if they did, $3000 could buy something better than a purseit looks nice, it's a knockoff, the price is reasonable, and the quality is not that different from the original You can't even tell Comment from : @NeisMeara

❤❤❤ Comment from : @YODHANNAFELIPE

First thing put them into Debet😢 Comment from : @ghadakareem4174

Ohh girl Your awesome and beautiful 😍 Thanks for the info! Comment from : @roldanmike2147

Beautiful collection love bsuluxy/b channel ❤ Comment from : @SoniaMaria-d4l5d

I have a Gucci Horsebit Mini but almost bought the Jackie instead The reason I didn't was because it's open ended and the Hosebit has a flap It always baffles me why so many luxury bags don't have a safety clasp? Definitely a deal breaker in my opinion! So while I still love the shape of the Jackie, this is further proof that I made the right choice buying in bunidups/b ❤ Comment from : @CleisoJanelli

Came here with high hopes for some great tips or even insight But walked away with many points unrelatable because they were made for a small corner of the world, 3 of the population (and 20-something of the world economy) - on a global platform What would the generational wealth look like for the 97 of the world? Would our rich BFF accept the challenge and look deeper into this? Comment from : @michaelr3025

I absolutely need this for my girls Comment from : @RonaldLopez-y3x

I have a few questions about the Roth IRA To be able to have one, the kid needs to have income, therefore, pay taxes Is it smart? I thought about a custodial investment account, however, I heard it can compromise the financial aid when applying to college BTW, I have a 529 on my name and another on my son’s name to get the maximum tax benefit on my state Comment from : @gabrielaluporini2640

While these strategies are excellent for wealthy families, they often feel out of reach for the average working-class household struggling with day-to-day expenses It's a great breakdown, but could you also address how someone with limited resources can take small steps toward building generational wealth? Comment from : @MoneySimpleExtractor-d1v

Why don't you teach kids empathy, kindness, compassion, money money 24*7 is not the way to live life Comment from : @SundarbansCompanySite

Key word on here for every way she mentioned is “rich” people Comment from : @joeprospero8109

I started investing in dividends with my taxable account I used the buy and hold strategy in my Roth, adding some Berkshire B stock, SCHD, and an S&P 500 and total market exchange-traded fund Comment from : @ChristopherAbelman

Great advice 👍🏽 Comment from : @FutureYouTV

You didn't mention Roth IRA early withdrawals are heavily taxed Comment from : @liveandletlive2894

UTMA account? Comment from : @liveandletlive2894

Your Rich BFF missed an important point on the Custodial ROTH IRAbrbrTurned out, that you can't just open Roth IRA and put money into it The ROTH contribution must be from "earned income" which income tax was paid upon So how does a 10 year olds mowing your lawn have "earned income"?? They don't So you the parents has to pay tax on their behalfbrbrEvery dollar going into your Kids ROTH IRA, you have to pay the kids income taxbrTalk to your CPA first, don't just listen to this Rich BFF Comment from : @jwc3104

The future belongs to those who believe in the beauty of their dreams Success is a state of mind I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mrs HESTER PEIRCE Comment from : @RinaCole-d1m

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money I started investing with $120k and in the first 2 months , my portfolio was reading $274,800 Crazy right!, I decided to reinvest my profit and gets more interesting For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family Comment from : @AlilatTiamiyu

Pls remove the loud music is too distracting Comment from : @anagcbr8636

Thank you!! Comment from : @seanb9821

Credit card advise is bad advise Comment from : @iati6294

Am a parent and just save for their education in insurance company Comment from : @Amafaranga300

How can I make good profit as a beginner starting with $6,000 iq8 Comment from : @GabrielleSmith-l4k

You will make your grave ,if you authorize your kids to your credit cards,before you die Comment from : @syedahmed-xw9vm

What about UTMA Comment from : @Rattle86

Would it make better sense to just get a specially designed and engineered Whole Life for your child rather than a 529plan ?529 can only be used for educational related expenses and if they’ll get scholarships as you said only 30-35 can be rolled over But if you get a Whole Life (that’s front loading or most often the premium goes to the cash value), your child will not only achieve that investment growth like 529 but it can also have death benefits and by the time they are ready for college they’ll have a chunk of money which they or you can loan against to spend not just for educational expenses but for car loans or house downpayment Let me know if I miss spending between the two Comment from : @ArtBascug

how can you open a bank account for them when they are not born yet and when they don't have a SSN yet ?? Comment from : @maccheese128

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money I started investing with $120k and in the first 2 months , my portfolio was reading $274,800 Crazy right!, I decided to reinvest my profit and gets more interesting For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family Comment from : @SamsonKempston

The majority of people I know who are rich all made a business and worked very hard to get the the level of success they have They dont have to work as hard as they now manage but make a lot of money All of them came from poverty However, I do agree with the rest of what you're saying Comment from : @bettaaesthetics7791

Thank you so much my kids deserve so much more great video Comment from : @Motivationalmindspodcast

Ok, I think I got it! Open and build up your kid's credit card history, open a 529 College account, open a Custodial ROTH IRA, and set up a Trust Fund Thank you Vivian!! Comment from : @TheOliviajules

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money I started investing with $150k and in the first 2 months, my portfolio was reading $274,800 Crazy right!, I decided to reinvest my profit and get more interesting For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family Comment from : @lennoxmutterick6434

Most credit card issuers do not allow you to add an authorized user before the age of 13 the first piece of advice seems inaccurate and not well researched Comment from : @GothamScent

Most credit card issuers do not allow you to add an authorized until they are 13 years old (I asked ChatGPT) So the advice of adding your babies as authorized users is inaccurate and misleading, kinda makes me wonder whether should listen to the rest of the video or not Comment from : @GothamScent

Planning ahead can really minimize taxes! I've made a smart reinvestments, especially with some great guidance from a pro for a half year now, and it's been a game changer I was able to reinvest my RMD strategically, and I'm now pulling in about $25k a week, despite doing very little trading myself It's a nice cushion against financial stress Best of luck with your RMD decisions! Comment from : @WeweAke

Building your kids a good credit score so they can get into debt sounds like great advice 😂😂😂 Comment from : @RaayRayJenkins

A $ million today in 20 years will the value of a $100,000 (inflation) 😭 😢 Comment from : @ZenKaizen7

what do you think about of utma instead of 529? Comment from : @BobDole-x1x

what do you think about of utma instead of 529? Comment from : @BobDole-x1x

Let's get together at the Seminole HARD ROCK CASINO in Tampa Florida ❤UVivi😊 let's make her jealous she promise she is going to k👁️⁉️ both of us Comment from : @DaveSingh-b9f

"Investments are the roots of financial security; the deeper they grow, the stronger your future will be" Comment from : @SophiaChloé6f

Instead of the 529 that is so restricted I rather get them an IUL from the time they are born Comment from : @pedrazagroup

How do you feel about dividend investing? Comment from : @rocoosp70

Hi I didn’t catch your name my name is antwane, but I like the way you think and would like to see if we could get to know one another to bounce off ideas and energy Comment from : @antwanerobinson9578

First step is to build their credit score? So they can effectively borrow more money? Awesome! But my little mind thinks, if they have no debt and generational wealth, why do they need to borrow money? Comment from : @DC-zz8wt

And totally ruin their lives Why do people think its a good thing for their kids to be rich without putting in the effort themselves? Most of the time that money turns them into spoiled, entitled pricks Comment from : @jamessmith785

No background music please Good program Comment from : @Star2ice

As an investment enthusiast, I often wonder how top level investors are able to become financially stable, I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make over $400k like some people are this season Comment from : @Renee-b5b

Thanks Vivian, I followed some of your early tips about credit with my kids They are adults now, but I have shared this video with them I wish I knew some of the other things you mentioned when I started off with a young family, but I think they are set, but your tips will help them even more Thanks again Comment from : @zacgvids

Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks Currently, my portfolio is down by 15 Wondering if they're any short term opportunities I can invest in Comment from : @NatashaGibbs-e5o

Just subbed! We just had our 4th baby and need to get them set up financially Thank you so much for this video! Comment from : @JessicaHolmes

Will 529 effects getting federal or private scholarship Comment from : @tinayangzom2579

For my 10 yrs old son, Im encouraging him to read business book at his early age, and start his business… soon he will start a smoothie drink shop We’ll support him Comment from : @takeaction2023

Sucks system of the America/Canadia credit card trap You don't need a credit card in Australia You need income to rent not a credit card Comment from : @takeaction2023

How about life insurance for baby? Comment from : @kangaroorealty

3:25 does it have to be for school? What if your child doesn’t want to further their education? Comment from : @brittney5800

I think I agree with most of this except the credit card I want them to build their own credit Having a crappy credit score is good at the start and you can start to build bit by bit You get used to it and start small I'm not a fan of consumer debt Comment from : @smileyspoon1

Question on the 529 If you can only roll over 35k, what happens to the rest of the money? Why not just set up a Roth IRA for them to begin with, that way if they don't end up going to college or get a scholarship, none of the money goes to waste? Comment from : @Levelupwithleavitt

LYXBAGS I love you so much and watching your videos makes my day brighter Comment from : @MustqeemLego

If you saved enough money you don't need a credit card use your own money No one ever got rich of points Dave Ramsay says you don't need a credit score Comment from : @pennybentley5125

If my child chooses not to go to college, But wants to take a different approach to education, could that still be covered by a 529 plan? Or is it Strictly only college? If not, is there a plan that can offer any type of education and still be covered? Comment from : @OurEarthJourneys

I'm 47, my kids are in college, and I can finally afford to invest I just opened a Brokerage Account If I have $80k to invest, how should I begin? Comment from : @superwomanAnn

Do you have to use the card for it to stay active Comment from : @xylianis08

Can you talk more about roth IRA account for kid? What do we need to contribute to the account as i do not have a company Comment from : @halnnguyen3

I'm sorry but 3 out of the four points here are pure excrement from a bovine species Trust fund is the only way to pass on wealth to the next generation in your schemes Building and managing wealth is a skill that must be learned and earned Good parents who think this a value worth passing down will teach it to their kids either by some form of mentoring Comment from : @An_Urban_monk

❤️‍🔥👭👭💜 Comment from : @laurencedhemba9004

why you have that loud music, its so hard to hear you Comment from : @shakeelbaig359

1 Is a terrible idea, the only way a credit card will build their credit is by showing usage and regular payments on charges Which means you have to use itwhich leads to massive dangers of you destroying a childs credit history And if you do not use it 3 times in one year, after a few years it drops off most credit checksso your Kids do not need it, especially if YOU have access to it They can wait until they are 16, get one for gas only from Shell, or any gas station, and they can pay that monthly and blow up their credit before college It only takes a few years, not two decades when you start from nothing You do not need a #4 unless you can fund it, many cost thousands a year just for a trustee to maintain it, because it pays taxes, and controls the assets and legal issues in it IF you wanna leave your house to your kids, just put their name on the title, and if you wanna leave them the money, just put the name on the bank account, same as investments Now if you own a corporation, sure a trust that lets the board run the company and pay your kid is something to look at Comment from : @bigegames2019

Question about the credit card brCan it be more than one user brFor example add both of my kidsbrOr it's only one child? Comment from : @ER-xg4md

My credit card 💳 company said i have to wait until my child is 15 until i can add them on 😢 Check with your credit card organization Comment from : @Ashley-id2cb

I thought authorized user CANT build credits? Comment from : @joete3324

Your 16 million number you came up with from the 529 to Roth IRA part is way off If you put 35k into the s/p 500 averaging an 8 return over 40 years you would end up with 760k Comment from : @Wutang3737

How about us on the other side of the pond in the UK? Comment from : @cryptoconfused3400

Excellent advice, all of it Comment from : @tiomoidofangle102

I called my bank and i could add her as a Authorize user but it wont build her credit How can i help her ? Comment from : @brianespinosa9527

Spoke too soon, yes it will grow if you move the 529 to a Roth but depends on how much is deposited Comment from : @judemartin2878

Nice video but the music is to loud Comment from : @leanwats1103

Nice info Still for wealthy families Comment from : @Teaally1913

I have a question I wanted to add my niece as authorized user to my credit card but it doesn’t ask for her SNN , if that so how can she build credit history? Comment from : @Poormaninvestor

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