Thank you for this video. In my own view 80% of Americans love liabilities not investments that's why when an emergency happens they can't come up with $1000 because there's nothing but liabilities laying around
Thanks for the great info. I have UTMA's for my kids in Vanguard aslo, are their any fee's transferring the money and is it pretty easy switching the accounts when they turn 18? thanks
I’m pretty sure the account just turns into a taxable brokerage in their name when they turn “of age”. Evidently, “of age” depends on the state you live in. For us in Michigan, it’s 18 but some other states appear to be 21. (Consult your financial advisor as I’m not one - just a dude making RUclips vids) Here’s Vanguards page on fees for UTMA transfers ... look like it’s $0 :) personal.vanguard.com/us/whatweoffer/college/vanguardugmautma
What do you think is the best way to invest for your child's future?
Thank you for this video. In my own view
80% of Americans love liabilities not investments that's why when an emergency happens they can't come up with $1000 because there's nothing but liabilities laying around
I like the premise of ensuring your retirement is taken care of first. Smart plan.
Thank you Craig! The best way to help others (including our kids) to help ourselves first.
Retirement first before you child’s future!? I think this is great advice. Give a kid a fish, teach a kid to fish...
We don’t want to end up sleeping on their couch, right?!
Great video!
Thank you!
Thanks for the great info. I have UTMA's for my kids in Vanguard aslo, are their any fee's transferring the money and is it pretty easy switching the accounts when they turn 18? thanks
I’m pretty sure the account just turns into a taxable brokerage in their name when they turn “of age”. Evidently, “of age” depends on the state you live in. For us in Michigan, it’s 18 but some other states appear to be 21.
(Consult your financial advisor as I’m not one - just a dude making RUclips vids)
Here’s Vanguards page on fees for UTMA transfers ... look like it’s $0 :)
personal.vanguard.com/us/whatweoffer/college/vanguardugmautma
@@MarriageKidsandMoney thanks again, much appreciate all the help and vids.
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