Uploaded November 2024 | Updated September 2026, 10 hours ago
👋🏽 Business Inquiries: https://tally.so/r/3yaBVB
Timestamps:
00:00 Intro
00:33 How and where to open a 529 education account?
02:56 The Rule of 72
03:25 How much money can you put in per month?
04:13 How much am I putting in my kids' 529 accounts?
04:53 What happens if the kids don't want to go to college?
05:06 Rollover a 529 into an IRA
06:34 Popular 529 accounts
07:55 Should I invest "In State" for tax benefits?
09:04 Why not use 529 accounts for K-12?
09:59 529 accounts can be opened by grandparents too.
10:14 UGift links
10:48 How much should the funds in 529 accounts cost(Expense Ratios)?
11:24 Custodial Roth IRA
14:11 Wills and Trust - protect your wealth from unforeseen circumstances.
If you invest in your state, you can deduct contributions from your state tax returns. The benefit is small and won’t make much of a difference.
The importance of the 529 is not its state. The most important thing is to start as early as possible and invest the money in the 529 as best you can. If your child is 6 months old, I congratulate you for starting this early. Even $50/month will make a big difference when he is 18. And I’m sure you can increase those contributions over time.
By setting money aside for college by the time he is 18, you will be doing your child a huge favor. It could also save him from a life of student loan debt, so plan ahead.
Don’t overthink what state to start your 529 in. Just pick one and start now, but invest it aggressively since you have a lot of time to ride the market's ups and downs. Consistent contributions over a long period, plus the effect of compound interest, will make the most significant difference. Start now.
Best 529 accounts:
These states provide low-cost funds with flexible investment options
Utah - my529.org
New York - nysaves.org/home.html
Nevada - investor.vanguard.com/accounts-plans/529-plans (Vanuguard Funds)
West Virginia - smart529.com/home.html
I'm listing just a few options so there is no room for confusion, and you can start early. Just pick the first one and start.
Custodial Roth IRA
schwab.com/resource/custodial-ira-application
Get 4.75% interest on your cash- wealthfront.com/invited/AFFD-1JK7-CFXF-ZUW3
Investment account- wealthfront.com/c/affiliates/invited/AFFD-27X1-KCMA-R01
My gear:
Main Camera: Sony a74(Amazing Camera!) - amzn.to/3ynXzOE
Second Camera: Sony a6400 - amzn.to/3ElOqtY
Travel Camera: Sony ZV1 - amzn.to/3x9UOB4
Main Lens: Sigma 24-70mm F2.8(the most versatile lens ever!) - amzn.to/3CoRu66
Sigma 16mm 1.4F - amzn.to/3Me5fZE
Microphone: Rode Video Pro - amzn.to/3KfXPTS
Lavalier Microphone: Rode Smart Lav+ - amzn.to/3jauz5h
Wireless Microphone: DJI Mic 2 - amzn.to/3YZdyzl (the best wireless mic!)
Music is from Epidemic Sound - epidemicsound.com/referral/ckd67h
Some of these links are affiliate links. If you choose to use them, I may get a small commission without any extra cost to you. If you do use them, thank you for supporting the channel!
👋🏽 Business Inquiries: https://tally.so/r/3yaBVB
Timestamps:
00:00 Intro
00:33 How and where to open a 529 education account?
02:56 The Rule of 72
03:25 How much money can you put in per month?
04:13 How much am I putting in my kids' 529 accounts?
04:53 What happens if the kids don't want to go to college?
05:06 Rollover a 529 into an IRA
06:34 Popular 529 accounts
07:55 Should I invest "In State" for tax benefits?
09:04 Why not use 529 accounts for K-12?
09:59 529 accounts can be opened by grandparents too.
10:14 UGift links
10:48 How much should the funds in 529 accounts cost(Expense Ratios)?
11:24 Custodial Roth IRA
14:11 Wills and Trust - protect your wealth from unforeseen circumstances.
If you invest in your state, you can deduct contributions from your state tax returns. The benefit is small and won’t make much of a difference.
The importance of the 529 is not its state. The most important thing is to start as early as possible and invest the money in the 529 as best you can. If your child is 6 months old, I congratulate you for starting this early. Even $50/month will make a big difference when he is 18. And I’m sure you can increase those contributions over time.
By setting money aside for college by the time he is 18, you will be doing your child a huge favor. It could also save him from a life of student loan debt, so plan ahead.
Don’t overthink what state to start your 529 in. Just pick one and start now, but invest it aggressively since you have a lot of time to ride the market's ups and downs. Consistent contributions over a long period, plus the effect of compound interest, will make the most significant difference. Start now.
Best 529 accounts:
These states provide low-cost funds with flexible investment options
Utah - my529.org
New York - nysaves.org/home.html
Nevada - investor.vanguard.com/accounts-plans/529-plans (Vanuguard Funds)
West Virginia - smart529.com/home.html
I'm listing just a few options so there is no room for confusion, and you can start early. Just pick the first one and start.
Custodial Roth IRA
schwab.com/resource/custodial-ira-application
Get 4.75% interest on your cash- wealthfront.com/invited/AFFD-1JK7-CFXF-ZUW3
Investment account- wealthfront.com/c/affiliates/invited/AFFD-27X1-KCMA-R01
My gear:
Main Camera: Sony a74(Amazing Camera!) - amzn.to/3ynXzOE
Second Camera: Sony a6400 - amzn.to/3ElOqtY
Travel Camera: Sony ZV1 - amzn.to/3x9UOB4
Main Lens: Sigma 24-70mm F2.8(the most versatile lens ever!) - amzn.to/3CoRu66
Sigma 16mm 1.4F - amzn.to/3Me5fZE
Microphone: Rode Video Pro - amzn.to/3KfXPTS
Lavalier Microphone: Rode Smart Lav+ - amzn.to/3jauz5h
Wireless Microphone: DJI Mic 2 - amzn.to/3YZdyzl (the best wireless mic!)
Music is from Epidemic Sound - epidemicsound.com/referral/ckd67h
Some of these links are affiliate links. If you choose to use them, I may get a small commission without any extra cost to you. If you do use them, thank you for supporting the channel!
