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My house is paid off. I plan to give it to my grandaughter. I hate to send you to reddit but there's some good financial planning subs over there. I hate the libtarded place but some of the subs are informative.

Good on you for caring for your white children. Both of mine completed college and are more than self sufficient. Both are doing better than I ever did.

529 plans are the way to go if you think there might be higher education in their future. Look for one with very low annual fees and zero entry/exit fees. Vanguard, Troweprice, etc.

These are just broad market funds which ... historically ... have always done well as long as you have a 10+ year investment timeline. Plus nice tax advantages, which are key.

When each of my kids were young, I dumped some cash in each kid's fund. Fast forward 15 years, and the returns have been 3-4X and this is enough to cover a majority of their college needs.

I saw someone else recommend Whole life plans ... bad idea IMHO. These have always had very poor returns compared to broad market funds ... far too much of the profit goes to the fund as it's difficult to really value the return when there is an 'insurance' aspect of it. Stay away.


Edit: And if you feel like you need insurance ... just get a term policy. Never a good idea to try to combine to different needs (insurance vs. savings) because this is how things get convoluted and you get a bad deal.

Edit edit: Here is the historical performance of the Troweprice 529 fund: https://www.troweprice529.com/home/invest/prices-and-performance.html (No whole life policy can get close to these long term returns.)

Unless you have complete control of the investments in your IRA, enjoy handing your money over to Blackrock who will then use YOUR money to fund Disney, Harley, Gillette, Hollywood and pretty much everything you hate.

Phony money, aka US Dollar, isn't going to help your kids in the future. It's not going to be that easy.

Whole Life life insurance policy. It earns interest and pays out dividends. By starting it when they are young the monthly premium is cheap and it locks in the low price for life. Small loans can be quickly acquired from the policy if they ever need some emergency funds. Plus they can always just cash it out and close the account if they ever decide not to maintain the insurance coverage

“Oy vey, invest more money with us!”
-jews

Gold and silver are wonderful savings mechanisms for this. No middlemen involved.

The best future you can provide for your kids though is to teach them the value of hard work. To instill into them the need to push themselves forward despite any and all adversity.

Your future lies in their success, which is not based on material things.

A stack of collecting coins (wiener philharmoniker, dollar, rare roman, kruger rand).

I would be more worried about trying to set your kid up for an easier transition into adulthood and self-reliance rather than retirement.

When my kids were young I told them I would match $2 for every $5 they saved. Now my 3 kids are going to university, trade and cosmetology school without owing a penny since they saved enough to pay for it all.
Even a high interest savings account at 4.5% is better than nothing.

I don't like cash or even the market as it is very likely that we won't have a dollar.
Despite this, I think I will put the kids in a position of TQQQ with is 3x leveraged tech stocks. It moves a lot but also goes up. If you have risk tolerance, look into it. Metal is great but it won't ever grow or produce income so it is a speculation, not an investment.

Get ready for the market to crash in near future. We've taken what we can out of retirement and invested in things we think will hold value. Gold/Silver, Bullets, Specific stocks, etc.

Back to school to change careers. Have quite the resume but computers are gay. My goal is to leave behind the business and real estate for my children and also give them the opportunity and support network to actually build careers for themselves without having to worry about their junk beater car breaking down on the way to some minimum wage job or if they should choose between purchasing gas or food.

I’ve seen what young people are capable of when they aren’t surrounded by abusive adults and are given a support network. It’s quite remarkable. In transgression to everything I just said, I have many peers in their 30s now who were spoiled. Comfort will destroy a man completely. The rich middle-class kids managed to do sweet fuck all as they were too proud to lift a finger and do any real work. Some of them are still living in mommy’s basement spending their minimum wage on marijuana.

I think what matters most to me is that my children passionately work towards something they care about so long as it be lucrative in either the short or long term. What I’d hate to raise is a set of entitled lazy children. I also want them to know that they don’t need to leave the nest to pay rent to some sand nigger landlord. Seems too many of the people I knew just needed to escape their toxic families.

L8ndsay lohans parents didnt save.

Wont you think of the children?