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So the last one that we'll talk about is stock gifting.
Remember that that post you put up like that was years ago.
We're like, yo, instead at a baby shower getting gifts, we should be Brian stocks That really didn't pick up.
People really didn't take advantage of that.
But that's one of these things, right, Like, if we know the advantage of investing in the market, right and we have a child that is coming into this Wow, And it doesn't even have to be a baby shower. It could be any type of holiday, it could be a birthday, it could be Christmas. Yes, it's cool to have cool toys and have nice items, but the one thing we know about those items is that they're gonna hold no value after we open and they're not gonna
appreciate time. Even if it's a collectible like a sneaker or something a child at seven eight not they're wearing that shoe and they're gonna wear that thing to death and it's gonna be worth nothing after it was purchasing one. Whereas if we put it into an investment like a stock on atf on index, we know long term that that's gonna appreciate, and so we need to get in
the habit of at least thinking that way. Right, we can now gift an asset that's going to appreciate over the course of someone's life, and even if they don't know. I think that's the perfect part of it. A lot of times, and we've seen people be gifted stock and they're like, what is this? What do I do with this?
It now becomes a teaching lesson again, Right, you always have to have an inflection point in any point of education, the fact that you've done something that is completely different than buying a PlayStation, Right, maybe you buy Sony stock in addition to it. Right, so now it's best of both for us. Well, here I invested in the actual item, but here we invested in the company too. Here's why we did it, and here's how long you're going to hold it. It's an inflection point now to increase the
intelligence of a child that you know that becomes contagious. Right, the kid now gets to explain to him his peers and his cousins and his friends what happened, and hopefully they explain to their parents. That's how you build education in the community. Digress, Yeah, for sure.
And the irs allows tax free gifts of eighteen thousand dollars a year. Whow So we have never really talked about gifting too much, but you can gift eighteen thousand dollars a year tax free. So we talked about the tax benefits as far as you know if you're a self employed person. But this is another way to kind of a tax purposes benefits.
Is you know, when you're talking.
About stock gifting, the tax aspect is a major part of it. So this is a you can you can gift tax free up to eighteen thousand dollars a year, right, and it doesn't have to be just stocks, but we're talking about stocks right now, so that's the main focus. But it's the same principles that apply when we talked about all of the other stuff.
Right.
You you can literally take ten thousand dollars a year and gifted to your child or to your grandchild, and that's tax free and that same compounding interest growth will occur. So that's another benefit of you know, gifting, is that the tax aspect of like, that's a great way to utilize the tax system in America and to still benefit the next generation.
Yeah, and somebody's going to ask, well, how do I give to It goes back to the third way that we said that you can create a millionaire situation for your child open the up my account, right that up my account is super important number. Again for the tax purposes, but again this is now something you can put assets inside of, whether it be collectibles, whether it be real estate,
whether it be I bid to invest in bitcoin. This is a definite must if you're trying to build wealth for your children, right, you have to have an up my account. In fact, I encourage everybody after they watch this video or tomorrow morning, go to your broker's account, whichever one you use, and I've done it on each one of them. So Fidelity has it, Chuab has it, each Trade has it.
Open.
Then up my account and just open it. Put five hundred dollars in there. In the same way we talk about dollar cost averaging. Right, this is another key thing. The same way we talked about dollar cost averaging. Make sure that you have a plan into putting money into that upme account. Don't just leave it at the five hundred that you did to open and thinking that it's going to grow. We told you the threshold from a tax standpoint, we told you the things that you can invest inside of it.
Make sure that there's a plan to put.
Assets until it can accumulate to something that's going to be worthwhile in the future.
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