Michael and Brady break down the real strategy behind building wealth for your children, one that goes far beyond the typical “set it and forget it” approach. From 529 plans to Roth IRAs, custodial accounts, and emerging options like Trump accounts, they unpack how each tool actually works in the real world. More importantly, they reveal how to combine them intelligently to maximize flexibility, tax efficiency, and long-term control. Whether you're a high-income earner, business owner, or simply a parent who wants to make smarter financial decisions, this conversation will challenge your assumptions and give you a clearer blueprint for generational wealth. If you’ve ever wondered how to save the right way for your kids, not just the popular way, this episode is a must-listen. Key Timestamps: (00:00) – Building Wealth Strategy Foundations (01:12) – Beyond Basic 529 Thinking (02:45) – Understanding Account Ownership Rules (04:10) – Why Labels Mislead Investors (05:32) – Tax Efficiency Planning Breakdown (06:50) – 529 Plan Core Benefits (08:05) – Roth IRA For Kids (10:18) – Custodial Accounts Explained Clearly (11:40) – Risks Of Early Control (12:55) – New Trump Account Insights (14:20) – Flexibility Versus Tax Tradeoffs (16:05) – Designing Smarter Education Plans (18:10) – Avoiding Overfunding Mistakes (20:00) – Combining Accounts Strategically Key Takeaways: • Why relying solely on a 529 plan can create hidden risks if your child doesn’t follow a traditional college path. • How Roth IRAs for kids can become a stealth wealth-building tool with long-term tax-free growth. • What UTMA and UGMA accounts actually offer—and why flexibility comes with a control tradeoff. • The real impact of account ownership on FAFSA and how it can affect financial aid eligibility. • Why high-income families and business owners need a multi-account strategy, not a one-size-fits-all solution. • How overfunding education accounts can quietly cost you in penalties and lost opportunities. • The key differences between flexibility, tax efficiency, and control—and how to balance all three. • And the simple framework for combining these accounts into a strategy that adapts as your child grows. Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Financial Guidance for High Earners, Smart Money Moves for High-Income Professionals, Tax, Wealth & Investment Strategies for Top Earners, Financial Planning for Doctors, Lawyers & Execs, Wealth Management Tips for High-Income Earners, Expert Advice on Taxes, Investing & Growing Wealth, High Earner Money Talk, Financial Wisdom for 6-Figure+ Entrepreneurs, Smart Strategies for Managing High Income, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, 529 Plan Strategy, Roth IRA For Kids, Custodial Account Investing, Tax Efficient College Planning, Trump Account Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelraco This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.31. Expiration 4/28.
