Nicole Opened These 3 Accounts for Her 1-Year-Old. Here's Why.
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What accounts did Nicole open for her one-year-old and why?
I'm about to head out on a trip for 10 whole days. I'm actually not going far from my home in LA. I wanted to minimize travel time and maximize leisure.
How flexible is a 529 plan for educational expenses?
I'm going to put the out of office up on my inbox and retreat from the world to rest. I don't think I've ever gone away that long in my entire life. Certainly not in the last 20 years. Honestly, it's a little scary. What will happen at work if I'm not always in my inbox and working on deals? As you can tell, I have a lot of anxiety about going and guilt. One thing that helps me feel better about taking a break is that I know I can list my space on Airbnb while I'm away.
What is the impact of starting a savings plan early versus waiting?
Instead of sitting empty, your space can generate some extra income and help offset the cost of travel. It's a simple, practical way to make use of what you already have. If you've got upcoming travel plans, it's the perfect opportunity to list your space. And now, hosting is easier than ever with Airbnb's co-host network. You can hire a vetted local co-host to take care of the details for you.
What is super funding and how can it benefit your child's 529 plan?
A co-host can create your listing, manage reservations, handle guest communication, and even provide on-site support, so the stay runs smoothly even when you're away. You get to share your space with someone traveling to your area while you're off making memories somewhere else. If you've considered hosting but need a little help, find a co-host at airbnb.com slash host. I consider negotiation cardio, but sometimes I need to actually move my body. To trick myself into working out, I like to switch it up.
How does a custodial brokerage account work for children?
I recently went to a new gym to meet with a trainer my friend recommended. I hated it. It was too hard. It was too fast and also somehow boring. The only easy part was paying on my way out. Thankfully, they used Square so I could tap and go and never think about doing pendulum squats again.
What are the financial aid implications of custodial accounts?
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Why consider a custodial Roth IRA for a one-year-old?
Chime has added airport lounge access to its travel card. But that's not even the best perk. They offer the Chime Travel Concierge to help schedule flights, book hotels, and plan entertainment on your next trip. I can totally see how useful that will be as I explore the world. Chime is changing the way people bank. They offer the most rewarding fee-free banking.
What practical tips can parents implement to teach kids about money?
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I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand.
It's time for some money rehab.
I posted something a few weeks ago that honestly I did not expect to blow up the way it did. It was about my daughter and the accounts I opened for her. And the line that seemed to hit the hardest and get most residents wasn't actually about the accounts at all. It was this. This wasn't just financial planning. It healed something within me. Because when my daughter was born, I didn't just open savings accounts for her. I opened the ones i wish someone had opened for me i set up a 529 for education not because college is guaranteed but because options matter i grew up watching people make decisions based on what they could afford in that very moment not what they actually wanted in the long run and i didn't want that for her when i posted this i got a bunch of messages from parents from people who had never had these conversations with their parents
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Chapters
8 chapters
1
What accounts did Nicole open for her one-year-old and why?
0:00–0:08
2
How flexible is a 529 plan for educational expenses?
0:08–0:40
3
What is the impact of starting a savings plan early versus waiting?
0:40–1:09
4
What is super funding and how can it benefit your child's 529 plan?
1:09–1:46
5
How does a custodial brokerage account work for children?
1:46–2:09
6
What are the financial aid implications of custodial accounts?
2:09–3:02
7
Why consider a custodial Roth IRA for a one-year-old?
3:02–3:28
8
What practical tips can parents implement to teach kids about money?
3:28–13:29
Speakers
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