How to make your kids automatic millionaires #shorts

How to make your kids automatic millionaires #shorts

#nicholascrown #entrepreneur #finance #annuity

[lunardiplomat]

$20K to $2M is ballpark 16% annualized over 30 years, which wouldn't even happen if you were directly invested in equity indices. Since we're talking about EIAs, the annualized return would be significantly lower, like 5-6% or below, depending on the market. Leaving you with, wait for it... $90K in 30 years -.-

I like your rich guy vs. really rich guy content. It's funny, but don't lie to people.

[bruhidk]

Bro is just an insurance salesman at this point

[connorseddon]

Not to be rude, but this guy has pivoted heavily to shilling annuities, which aren't good returns compared to even a balanced index

[SeanBell-vxqm]

If you are not in the financial market right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation

[AS-qnyg]

The moment he said annuity I knew it was pretend 😂. Let me guess, he sells the annuities too.

[TreyJam]

Literally is being a salesman for Revise insurance group llc. Annuities underperform stock indexes like the S&P 500 their downside buffer is only worth it if you are <10 years of retirement but even then it’s a niche thing. They have cap rates on performance and usually may not account for dividends or you just upgrade it annually. Saying that the general public should invest in this for their kids will cause the kids to inherit less wealth. Not cool.

[Giggidygiggidy]

Who knew Ari Gold sold insurance when he's not doing Entourage

[robremini]

Alternative, setup 529. Rollover 529 to roth IRA at 18. Retirement funded.

[bilson]

Dunno where you're getting 2-5 million, wouldn't it be more like 750k after 30 years?

[gw]

Your math is wrong.... $50k annually compounded at 10% for 30 years is only $872k

[azraelmortis]

Let’s take financial advice from the guy who can’t do math 😊

[ibrahimseth]

Average Gold Yield(30 Year)=1000%
Note: As usual.

Debt=36, 000 Yield=5% Year=30
Debt(30 Year)=36, 000*1.05^30
Debt(30 Year)=155, 590

Payout(30 Year)=300, 000
{
Debt(30 Year)=155, 590
Loan(30 Year)=144, 410
}
Invest=? Yield(30 Year)=1000%
Invest=300, 000/1000%
Invest=30, 000

Loan(30 Year)=144, 410
Loan=? Yield=5% Year=30
Loan=144, 410/1.05^30
Loan=33, 413
{
Invest=30, 000
Extra=3, 413
}

Thank you.

[moonshynegirl]

That's nice. My father was an alcoholic, drug addict, criminal. The only thing he ever gave me was a constant reminder that I was ugly and stupid.

[MichaelRussell]

This is true, but it's also available to anyone with $20, 000 + $1500 a year for a trust fund + $1000 lawyer fee to create the annuity trust set-up. It also sucks of the banks fail again, like they do every 10 years.

[alfre]

If the index declines, so does the dollar with the annuity. If the SP tanks, the cash in the safe is kindling.

[ericdodson]

I started a college fund for my daughter, I wish i had the extra money to set my child up, but I will add her as an authorized credit card user on my credit cards when she is 12 so when she is 18, her credit score should be damn good where she might be able to buy a house as soon as she gets a decent paying job.

[liammitchell]

K that’s great but the average person doesn’t have that kind of money to spare on trusts and annuity, which is why primarily the rich are able to do this while most of us are stuck actually working to pay our bills.

[normbograham]

There are real benefits to annuities, by getting assets out of your name. This is more of a benefit for the working class. As an investment, annuities are cash cows for annuity salesmen.

[dirtyminerapparel]

We did this for both of our girls but we aren’t rich. We just know to break the cycle we need to do something different and when I got my insurance license years ago it was the first thing I learned about and I took action.

[pabloseykata]

I can understand why you don't hear about Annuities when you talk to the folks at Vanguard or Fidelity.