How To Set Your Kids Up For Financial Success #makemoremarbles #generationalwealth #financialfreedom

Do you want your kids to be broke? There's three things you can do right now to set your kids up for an incredible financial success story. One, Set up a whole life insurance policy for your kid when they're born. This way they lock in the lowest rate and the best health rating they will ever get for their life. This is an insurance contract with a guaranteed cash value, guaranteed level premium across their whole life and a guaranteed tax free return which is safe from creditors. Two, if you have parents who want to give the kids gifts, have them help you fund this instead. It will grow about 5% a year tax free, which is really like 7 to 8% with no risk. What's more is since they are now a policyholder with the mutual company, which is different from a stock company, they share in the dividends no matter what, which must be paid out. Stock companies don't have to do this, which will continue to grow over time. By the time they're seven years old, the base premium will be covered. By the time they're 21, the entire policy with the paid up additions will be covered. Meaning now they have a free policy that continues to grow tax free over their whole life and they can borrow against it as they will. Three, set up a trust for the policy so they can't screw it up. Then when they're ready for college, they have a trust fund that they can borrow against without ever touching the principal. If they never pay it back, the death benefit replenishes the trust in the policy and can be used to fund other policies. This is how families like the Rockefellers get richer every generation without taking any risk, while most families get poorer. Now, depending on the size of the policy, you might want to put in $1,000 to $3,000 a year, but by the time they're 18 to 21, they'll have between $80,000 and $120,000 ready to go tax free to start their lives. Bonus round. At every holiday or celebration, invite family and friends instead of giving a physical gift to donate that money into this fund. Boom. You are welcome.