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How to save money for your child!!! #wealth #savings #money #investing #finance #529 #investments

Your Rich BFF 212 views

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My weird flex is that I opened mine before my child was even conceived 😁
Comment from : @quietferocity

I just learned that in order to roll over to a ROTH IRA the 529 has to have only had 1 beneficiary, so you can’t start it under your own name first, right?
Comment from : @hello_hollyjade

If you are starting one do you open an individual or custodial account?
Comment from : @kaelabryant9056

Should have grandparent to open the 529
Comment from : @helenw97

Can you please do a video on how to start a 529 and all the things we need to know about it as well as how much we can contribute etc etc
Comment from : @DrRickMarshall

Great content! I’m hooked You do seem like a bff! 😆
Comment from : @Shewhomustnotbenamed8

Rich People this, Rich People that, Wealth boils down to Saving your Money over years, and evolving to understanding, what's at the core of being, a Financially Responsible individual
Comment from : @astrumignis2030

How does she know what the Roth will be worth when the child retires? How does she know what the market will return and when the child will retire? Blanket projections stated as fact are not helpful
Comment from : @CaptainAmerica86240

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

Is there an equivalent to 529 in the UK?
Comment from : @om3159

529 I would never recommend, do your homeowork My opinion is the worse thing you can do
Comment from : @victorsaintjames

I was never interested in numbers and taxes, stock market stuff Crunching numbers always felt boring to me I mean if you like a lot of money and always looking for more and more money this is the path I was always interested in science and disease processes, which is why I chose a career in medicine
Comment from : @Teffy2105

My daughter will be born in 2 more months this just saved me a lot of worrying no lie 💯
Comment from : @princemaverik

We have one 529 that has made waaaaayyyyyy more than we contributed But it's sooooo important to start early and front load it if you can
Comment from : @jj3682

Wow thank you for the info
Comment from : @lulimau8478

Is it strictly before they are born??
Comment from : @OurEarthJourneys

Can anyone suggest safe way to pay 529 plan
Comment from : @AshaAnusha-f2e

Can grandparents open and transfer a 529 to their grandchildren?
Comment from : @laceybabydoll

I lost all respect for Vivian, my rich, BFF, when she pulled a really terrible stumped on YouTube She actually set up a Patreon page asking people for donations, while she was bragging that she was rich What a turn off
Comment from : @paulh1745

😊❤😊
Comment from : @nceguerra

What is the Canadian equivalent?
Comment from : @LazyTesla

Your content is always so informative I appreciate the effort you put into sharing valuable advice
Comment from : @sjdigitalsolutions

What is the best account for 529 plan?
Comment from : @jiaandnana

Thank you xx🙂❤️
Comment from : @veronicagraves5621

What if the child decides to join the military instead of college? Are there penalties for transferring the money?
Comment from : @Nonya3005

What about homeschooling? Does a 529 plan cover those costs as well?
Comment from : @livtru7303

I’ve been checking you out, Vivian, for quite a while now brbrYour content is well needed and GoldenbrbrThank you so much you’ve done a fine job 🔥🔥☝🏾
Comment from : @iglehartj

How can I do this for my grandchildren?
Comment from : @care4me7

🎉
Comment from : @wyattshoemaker5403

What 529 plan should I go through? Like company
Comment from : @Jazzygirl01

Can grandparents do it or at least start it?
Comment from : @little2832

Or not have a kid at all
Comment from : @aemen8796

Wonder if I can open one for a granchild???
Comment from : @lyric8529

Wish I knew you before I had a kid I do have a 529 now but sadly didn’t know to start it until my son was about 5
Comment from : @lauravalle3766

I joined the military so going to just scroll past this short
Comment from : @Loveduhmusic

any information on scholarship, my daughter will be going to college in 2023 I dont have a 529 plan She did get some scholarship through the College she will be attending but still about $10,000 short
Comment from : @ivonahowell-hunte1818

Can u still do if kids are already here
Comment from : @denellflowers8056

If you have kids late in life you can pay for education with Roth IRA withdrawals 529 help but the bottom line is you still need to be able to pay for your kids Both my kids were on Scholarships I still paid 50K per yr after taxes , Toward their living expenses combined in college And that doesn't even count that i was also paying for their car insurance , and cars , and about $2000 /yr airline travel for one of them Nor the travel to watch one of them playbrbrIf you live at home and go to small regional universities college can be dirt cheap If you go away to Major private universities It's not so cheap
Comment from : @duskyman1

Yeah mom ever!!!
Comment from : @namhamada3984

So, does this apply only in America?
Comment from : @liaed3637

Soooooo if you don’t get a kid can you keep this money for yourself?
Comment from : @Jelleybean18

Can you use the 529 plan to pay for your own education? Like if I want to finance or Spanish classes at a college can I use a 529 for this?
Comment from : @ashleymichelle0713

Thank you!
Comment from : @annak6970

Is there a uk version of this?
Comment from : @yvietran3739

Thank you never heard of it, but now I know
Comment from : @danger4939

I opened one when I was pregnant and I've put $10k in and the account is now worth about $10k, which is exciting because for years it was worth less than what I had contributed
Comment from : @AAllan-mo1ll

Can you show options that are not exclusively for education expenses?
Comment from : @SnowFamilyVacations

So isn't the money taxed to begin with? For example are we not taxed before this money goes into a Roth IRA? Our paychecks are already taxed Or does the money come out first before taxes?
Comment from : @Jessy-ht2ll

Is there Australian version of this?
Comment from : @satya-and-dean

This is your best advice ever!!!
Comment from : @tramelparker2085

Didn't know that, that wonderful thank you for the education Daddy got you
Comment from : @rodneyshannon5759

Maryland 529 plans just had a hick up
Comment from : @infinitytricks3716

1 million dollars when they retire will get you a carton of eggs :(
Comment from : @Davidchendavid

I lost you at cuz I'm Vivian
Comment from : @AnonymousGameWarden

I wish I had know this for my daughter When is it too late to open the 529 for a child?
Comment from : @layajacksimmons5798

How do you start a 529 plan?
Comment from : @angelchancey9039

A true Baller
Comment from : @terrelsimpson5309

💯❤️👍 THANKS
Comment from : @erickawilliams7660

Our favorite Wall Street girly is Lauren Simmons, but thanks for the tips
Comment from : @deeelisa1890

OMG thanks for this! I didn't know unused 529 money could go towards a ROTH! This is huge
Comment from : @skn9302

Can the tax code change again to tax it at anytime?
Comment from : @Cinderella7117

What if that child doesn’t end up going to college, is that money only usable for schooling?
Comment from : @KristinaJones6425

Love you!!!
Comment from : @Mztmac82

I did not know about the Roth partinteresting!
Comment from : @Koiva232

Imagine the luxury of planning decades ahead, and having a stable state and currency br*sad Russian noises
Comment from : @juliager5702

Yesfinancial education for the parents-to-be
Comment from : @didikwahyudi8270

here, here
Comment from : @sjboyer2536

Always great! I read the parents can also take the money out but they might have to pay taxes on it
Comment from : @carefulconsumer8682

Love Vivian she’s my rich bff
Comment from : @wakinguponthegoodside

Would you start this after you max your 401k or before?
Comment from : @KimMaverick

A 529 account can be used for vocational school, too, can't it?
Comment from : @anio1349

I know of two rich people that wouldn't pay for their kids schooling or their health needsbrIt's infuriating!
Comment from : @greatmystery11

👍
Comment from : @uhohotdog3483

Wow wow Jesus this information is gold I would never ever in my wildess dream know all these information for finance your the GOAT
Comment from : @Francois3k

Did the same when I was pregnant and it pleasantly grew as expected However, I should have known better, or my adviser should have suggested, to make it more conservative right before my daughter entered college Unfortunately, middle of her college half tanked once Biden got in office It stings so bad
Comment from : @bluevirgo

Does anyone know if there are similar plans in the UK ?
Comment from : @princeisofi2585

I need a uk version of you Please 🙏 if anyone here is from the uk please suggest a uk account for me to follow too as good as this girl
Comment from : @seminajackson2902

If they don't go to college, can it still be rolled into a Roth IRA?
Comment from : @universallyunique

🔥
Comment from : @curtisdavis8594

You were so cute as a little girl 🥰
Comment from : @atlsongbyrd6084

Most of these accounts are use or loose
Comment from : @rebeccalankford9810

Well what do you do if you don't know how to respond positively to your child's personal education because you were not exposed to healthy environment and have emotional & mental issues along with terrible school experience and cannot afford to spend any money or move?
Comment from : @lilmrschocolatethundababy8665

Oh I didn't know the tax code changed! I was hesitating on a 529 because idk what kind of career and education paths my kids will pursue But being able to roll the extra into a Roth now is great!
Comment from : @RachelDee