Ask Us Anything: Kids & Money
Click here to watch Ask Us Anything: Kids & Money
Feeling unprepared to answer your children's financial questions? Our CEO Richard Salmen, and other members of our leadership team, answer your questions about kids and money. Whether it's loans or allowances, our finance professionals will guide you through difficult financial discussions.
PRESENTATION
- Presentation Begins (2:17)
- Resources (2:35)
- Agenda (4:00)
- Key Questions (5:05)
- Five Things You Need To Know About Money (6:00)
- Learn to Earn (7:46)
- Saving Tactics (10:38)
- Bank Accounts (13:25)
- Investing for the Future (15:52)
- Understanding Expenses (17:22)
- Building Credit (19:44)
- About FICO Scores (20:55)
- Building and Maintaining Good Credit (22:58)
- Debt and Borrowing (24:33)
- Giving Back (25:12)
- Adult Children and Money Issues (26:53)
Q&A
- Presentation Ends/Q&A Begins (28:21)
- What is the best way to set up bank accounts for your children? (28:34)
- If my adult children and grandchildren do not need any money from me, would it be better to go ahead and give them the maximum gift tax exclusion amount each year, or to let them wait until I pass away, since they will inherit it anyway? (32:18)
- How do you handle kids and credit cards? 17 and younger vs 18+ (36:20)
- When should I start investing in a 529 college savings account for my children/future children? And is it better to invest in 529 plan or in a custodial account for my children’s future? (38:27)
- Does adding a child as an authorized credit card user help them build credit? (45:10)
- I’m worried that my kids will have different levels of ambition or success. How do I handle financial assistance if there is a wide range in how much each child needs or asks for? (46:08)
- What are your thoughts on Venmo for kids? (51:07)
- How should I approach the topic of financial contributions if my adult child is living at home? (54:54)