▸▸▸Enroll in our 365 Days to F.I.R.E. Program! – Enrollment is now open for our class of 2024, 365 Days to F.I.R.E. program! As part of the program, you will get to attend our 2024 meetups in Portugal (with more than 500 people attending the meetups this year!), get assigned daily FIRE tasks to complete, participate in live monthly Q&A sessions with us, be broken into smaller accountability groups with other people in the program, attend quarterly book club meetings, get personal coaching from us (for those in the coaching plan) . . . and more!!! Enroll today!

▸▸▸Enroll in our Stock Market Investing Course for Financial Independence and Retiring Early: Enroll in our new 21 module, 4-plus hour stock market investing course with more than 30 handouts of summary notes, homework assignments, and resources. Learn how to research and select investments, how to determine your asset allocation, how to rebalance your portfolio, how to optimize your investments for tax purposes, how to automate your investments, and much more (including a 19-page Investment Plan to work on)!

▸▸▸Enroll in our FIRE Master Class: This FIRE Master Class is designed for people interested in pursuing financial independence and retiring early. In the Master Class, we explain how to live off of your investments during early retirement; how to withdraw money from your investment accounts to support your living expenses during retirement; how to calculate your FIRE number; new and creative ways that you can save money; new side hustles for making money; how to invest in the stock market and in real estate; we discuss healthcare options in retirement . . . and MORE!

▸▸▸Enroll in our How to Move to Portugal Course: A Step-By-Step Course to Relocating and Living in Portugal: This course is designed for people interested in moving to Portugal. In the course, we explain the visa process, the documents you need to submit for your application, and the step-by-step process that we took to obtain our visas; we explain the residency permit process and how we obtained our residence permit here in Portugal; we explain the process for buying and renting a house in Portugal; we discuss healthcare, school options, and setting up NIFs, we explain taxes here in Portugal, and MORE!

▸▸▸Follow us on Instagram:

Our Rich Journey – How Two Sisters Grew a $16,000 Stock Portfolio By Age 11 & 13 By Investing With Custodial Accounts: If you’re a family pursuing financial independence, part of your plan will likely take into account your children. Do your children plan on attending college? Do your children want to pursue financial independence? Do you plan on investing for your children? If so, will you invest in a 529, a custodial account, or both? Many parents are familiar with 529s. So, in this video, we wanted to talk about investing with custodial accounts. And we figured – who better to talk about custodial accounts than our two daughters – Sunoa and Melea! We hold custodial accounts for both of our girls. Through their hard work in saving and investing their money, they’ve grown their accounts to over $8,000 each. In this video, they talk about their custodial accounts, they take you inside their custodial accounts, and they share how (and what) they invest in inside their custodial accounts. Thanks for watching!

Music: bensound.com

▸▸▸PLEASE SUBSCRIBE:
If you like our video, please make sure to “like” the video and subscribe to our channel. We post two videos a week related to our journey towards financial independence, including making money, saving money, and investing money. Make sure to check out all our videos and . . . join the journey!

DISCLAIMER:
We are not financial advisors. Our videos are for educational purposes only and merely cite our own personal opinions. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary. Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won’t experience any loss when investing. Always remember to make smart decisions and do your own research!

AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact our personal opinions.

#StockMarketInvesting #CustodialAccounts #FinancialIndependenceRetireEarly…(read more)

LEARN MORE ABOUT: IRA Accounts

INVESTING IN A GOLD IRA: Gold IRA Account

INVESTING IN A SILVER IRA: Silver IRA Account

REVEALED: Best Gold Backed IRA

How Two Sisters Grew a $16,000 Stock Portfolio By Age 11 & 13 By Investing With Custodial Accounts

Investing is often seen as an activity reserved for adults, but two young sisters have defied this notion by building a remarkable $16,000 stock portfolio by the ages of 11 and 13. How did they achieve this impressive feat? They did so by utilizing custodial accounts, a financial tool that allowed them to invest in the stock market from a young age.

Custodial accounts, also known as Uniform Gift to Minors Act (UGMA) or Uniform Transfer to Minors Act (UTMA) accounts, are investment accounts opened in a child’s name but managed by an adult until the child reaches the age of majority (18 or 21, depending on the state). These accounts allow minors to invest in various assets such as stocks, bonds, mutual funds, and more.

The sisters, inspired by their parents’ interest in investing, began their journey into the world of finance at an early age. With the guidance of their parents, they opened custodial accounts and started investing their savings in the stock market. They learned the fundamentals of investing, such as researching companies, analyzing financial statements, and diversifying their portfolio.

As they grew older, the sisters became more confident in their investment decisions. They focused on companies they believed in, considering factors like a strong track record, innovative products, and positive future outlook. They diversified their portfolio across different sectors, ranging from technology to healthcare and consumer goods.

One key advantage of custodial accounts is the tax benefits they offer. Any income generated from the investments is taxed at the child’s typically lower tax rate, allowing for potential tax savings. This can have a significant impact on the overall growth of the portfolio over time.

The sisters understood the significance of long-term investing and embraced a buy-and-hold strategy. Rather than constantly trading stocks, they aimed to hold onto quality companies for extended periods, allowing their investments to compound over time. They reinvested dividends and made regular contributions to their custodial accounts to further boost their growth potential.

Their perseverance and dedication paid off. By the time they reached ages 11 and 13, their $16,000 initial investment had grown considerably. The stock market’s overall growth, coupled with their wise investment choices, contributed to their success. Their achievements not only yielded financial gains but also provided them with valuable life lessons about patience, discipline, and the importance of long-term planning.

The sisters’ story serves as an inspiration for other young individuals interested in investing. Custodial accounts offer a unique opportunity for minors to start building their investment portfolios early in life, potentially setting them on a path towards financial success. However, it is crucial for parents or guardians to provide proper guidance and education to ensure children understand the risks and responsibilities associated with investing.

As the sisters continue their investment journey, they plan to keep learning and exploring new investment opportunities. With their early start, they are well-positioned to achieve even greater financial milestones in the future. Their story is a testament to the power of responsible investing and the potential for long-term growth through custodial accounts.