About this episode
In this eye-opening clip, Rashad Bilal and Troy Millings explore a game-changing approach to gift-giving that can significantly impact future generations. Why settle for traditional gifts like toys or gadgets when you can offer something that grows in value over time? Instead of the usual presents at baby showers, birthdays, or holidays, consider gifting stocks or ETFs. This innovative method can teach children the invaluable lesson of financial literacy and the power of investing from a young age. The clip delves into the benefits of using stock gifting as a way to support children's long-term financial health. Did you know the IRS permits tax-free gifts of up to $18,000 annually? This allows you to transfer wealth efficiently without burdening future taxpayers. Explore how setting up an Upma account (Uniform Transfers to Minors Act) can be a strategic move. It enables guardians to invest in various assets like stocks, real estate, or even cryptocurrencies like Bitcoin for minors. Our hosts emphasize the importance of a systematic approach to investing—contributing regularly to the Upma account ensures the growth of these financial assets. They highlight the strategy of dollar-cost averaging to maximize investments over time, making the most of market fluctuations. Ready to take the first step towards building financial assets for your family? Rashad and Troy recommend opening an Upma account with trusted brokerage firms such as Fidelity, Schwab, or E Trade. This clip is a must-watch for anyone looking to transform how they think about gifts and build a financially secure future for the next generation. *Hashtags:* #StockGifting #FinancialLiteracy #UpmaAccount #InvestInTheFuture #WealthBuilding #DollarCostAveraging #TaxFreeGifts #LongTermInvestment #FinancialEducation #RashadBilal #TroyMillings #Fidelity #Schwab #ETrade Our Sponsors: * Check out PNC Bank: https://www.pnc.com * Check out Square: https://square.com/go/eyl Advertising Inquiries: https://redcircle.com/brands Privacy & Opt-Out: https://redcircle.com/privacy See omnystudio.com/listener for privacy information.