Secret Tricks To Gifting Children Money 🤔

[@Jazzwealth]

Thanks for watching! Any topics you want to see us cover in this format? Let us know! :)

[@JA-zh6ew]

Great content as always!! Thanks so much!! I’ve taken another approach for our adult children inspired by the chapter in the book “Die With Zero” dealing with “lifetime legacy”. We give our sons a cash gift to be contributed to their Roth IRA so that they don’t stress over saving for their IRA, and they can focus on contributing to their Roth 401K. We also get great joy out of helping them now rather than waiting until we’re gone.

[@tommyforet8069]

Dustin this is one reason y'all are 66 over all advisors keep up the good work. Thank you.

[@papijelly]

Dustin how did you do it for your daughter ?

[@Eric-wc7lx]

I gifted enough for a four-year state college in 529 and the delta for a private four-year college in a UTMA for each child. I then told the child when he or she graduates, whatever is leftover in the UTMA account (I drain 529 first) they can have. This gives them motivation to find lower cost schools, apply for merit (they don’t get financial aid), and graduate early or on-time. I’ve done this for all my four kids and it worked out spectacularly. Also, many talk about the tax benefits of 529. However, if the child is paying more than 50% of his/her own expenses (which they are since paying for college with “their own” money), they get to file taxes separately and get 0% cap gain rates when selling UTMA assets, so effectively tax free at Fed level.

[@brucesmith6868]

Thank you Dustin great way to do it

[@jaimehernandez2036]

Great idea. Similar to a non-profit donation regarding avoiding the long term tax, but the adult kid gets the money. Thank you!

[@martinguldnerAutisticSwanGuru]

Unless stocks are inherited with a stepped up cost basis. You need to hold the stocks at least 1 year 1 day to pay long term capital gains rate vs short term capital gains rate.

[@kckuc310]

Great video

[@kirkroyse4705]

I have 4 kids awesome topic!! I am a custodian Roth IRA guy.. my oldest I am matching her with a taxable investment account as well, I have faith in God…

[@davidmay2294]

Completely agree. And teaching kids how to be responsible financially. Instead of just seeing that balance at 18.

[@guymartz8262]

Give them enough to do anything but not enough to do nothing

[@kckuc310]

You need to talk about tax gain harvesting when you retire and may not pay any gains when your income is low

[@CalmerThanYouAre1]

At face value this seems like a mechanism to rotate assets to your kids, then back to yourself capital gains tax free as soon as they are born. Up to the annual gift limit x 2 if your MFJ… 🤔 Once it’s gifted, there’s no stipulation it has to be used for education.

[@wilma6235]

Does it have to be for your kids or can it be for a friend’s child?

[@professionaljugalo]

Speaking from experience, third choice is made out of ignorance and fear, rules, taxes!?

[@kckuc310]

This is why their monies are in my name and they don’t know anything about it and if they aren’t good, I’ll give someone else or I’ll keep it

[@AndrewRod-c5v]

Would you now be a good time invest in emerging markets like Mexico and Brazil ??