-How can you set up your child for financial success? What nuances do you need to know about ESAs and 529s?

00:00 - Intro

00:39 - My Lego Robotics Kit

09:24 - HopeFilled Financial FootStep #6 - 401Kid

In today's story Jay shares how he earned his Lego Robotics Kit when he was a kid and how he saved it to build with his children. The lessons he learned about money are ones he'd like to pass on. He also shares from an NPR: https://www.npr.org/2021/07/27/1021262899/finance-money-tips-kids-families-conversations

The main topic is HopeFilled Financial FootStep #6 - 401Kid. Should you do an ESA, UTMA, 529, or something else? What are the implications of each? Find out more in these articles:

-https://fairmark.com/kids-and-college/utma/what-expenditures-are-proper/

-https://www.thrivent.com/insights/retirement-planning/the-secure-act-2-0-allows-a-529-plan-rollover-to-a-roth-ira

-https://www.savingforcollege.com/intro-to-529s/which-is-the-best-529-plan-available

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Disclaimer: This podcast serves as educational entertainment only. Any and all opinions relating to real estate, law, taxes, insurance, and/or securities investing that may be contained within this podcast should not be interpreted or implemented as recommendations nor advice. The opinions related to these topics – especially those regulated by state and/or federal entities – should never be taken as replacement for advice from a competent, licensed professional. HopeFilled Financial Coaching is not liable for any individual acting on any understanding of topics directly or indirectly related to real estate, legal practice, taxes, insurance, or investing even if an individual in question changed their understanding after listening to this podcast. All listeners are entirely responsible for seeking advice from licensed professionals before taking any action of their own.

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Music: "Take Me Higher" by Jahzzar

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