Notas del episodio
In this episode, Matt and Rachael discuss the concept of generational wealth and the goals that clients have for helping their children financially. They explore different tools and strategies, such as 529 accounts, UPMA accounts, brokerage accounts, and custodial Roth accounts, that can be used to pass on wealth to the next generation. They also touch on the importance of educating children about money and the potential downsides of generational wealth, such as lack of motivation and the need for careful estate planning.
Key Points Discussed:
- Many clients have the goal of generational wealth and want to help their children financially.
- Understanding how you want to help your children is the first step, whether it's covering college expenses, providing a head start in life, or supporting their career choices ...