The Next Dollar Roadmap to Financial Independence - #7: Prefunding Kid’s Education Needs
Now that you’ve mostly taken care of yourself, you can begin to extend generosity to others.
Parents most commonly start by saving for the academic pursuits of their children.
In this video, Curt explains a variety of ways to potentially save for your kid’s future education needs and why some methods are better than others.
He covers 529 plans, using a Roth IRA for college, prepaid tuition, UTMA/UGMA accounts, and just giving away cash.
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The Next Dollar Roadmap - • A Step-By-Step Guide to Financial Independ...
Starting Point: Creating A Budget - • The Next Dollar Roadmap to Financial Indep...
Milestone 1: The Uh-Oh Fund - • The Next Dollar Roadmap to Financial Indep...
Milestone 2: Take Advantage of Your Employer Match - • The Next Dollar Roadmap to Financial Indep...
Milestone 3: Pay Off Toxic Debt - • The Next Dollar Roadmap to Financial Indep...
Milestone 4: Full-Sized Emergency Fund - • The Next Dollar Roadmap to Financial Indep...
Milestone 5: Save 15% to 25% in Tax-Advantaged Retirement Accounts - • The Next Dollar Roadmap to Financial Indep...
Milestone 6: Invest for Flexibility - • The Next Dollar Roadmap to Financial Indep...
Milestone 7: Prefund Kid’s Education Needs - • The Next Dollar Roadmap to Financial Indep...
Milestone 8: Pay Off Remaining Debt - • The Next Dollar Roadmap to Financial Indep...
Milestone 9: Total Financial Independence - • The Next Dollar Roadmap to Financial Indep...
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00:00 – Start
02:11 – 529 Plans
04:30 – Roth IRA for College?
06:12 – Prepaid Tuition
07:10 – UTMAs & UGMAs
09:54 – Gifting
12:05 – Wrap Up
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Thanks for watching! Let us know if there are any other topics you want us to cover in the comments below.
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Disclaimer: This video is for information and entertainment only. None of the contents should be considered legal, accounting, or other professional advice. You should reach out to a qualified professional before making your own financial decisions.
I try to respond to comments and questions, but I will never provide personal advice through YouTube.