The way to build wealth for your kids that nobody talks about

About this episode

The episode discusses a method for parents to build wealth for their children by treating them as employees of their business.

Saving up money for your children's future is a challenging aspect of being a parent, especially considering the high cost of college, health care, and consumer goods. But what if there was a way you could guarantee passive income for your child's needs, even if they're only just a newborn? On this week's episode of Living Not So Fabulously, hosts John and David Auten-Schneider speak to Jannese Torres, entrepreneur and host of the Yo Quiero Dinero Podcast, about her surprising method to provide financial support to your kids by counting them as employees of your business. By doing so, Jannese reveals how you can roll their money into tax-advantaged accounts and promote a deeper sense of financial literacy for your kids that will last a lifetime. For full episodes of Living Not So Fabulously, listen on your favorite podcast platform or watch on our website. Yahoo Finance's Living Not So Fabulously is produced by Dennis Golin. Learn more about your ad choices. Visit megaphone.fm/adchoices

People in this episode

Hosts: John Auten-Schneider, David Auten-Schneider

Guest: Jannese Torres

Topics covered

• wealth building
• financial literacy
• parenting
• tax-advantaged accounts
• passive income

Keywords

• wealth
• children
• financial support
• tax benefits
• education

Mentioned in this episode

Organizations: Yo Quiero Dinero Podcast, Yahoo Finance

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