AIE 142: Invest for Your Kids Born and Unborn with Budgetdog

<p>This week, Lauren interviews the Budgetdog himself, Brennan Schlagbaum. Brennan talks about parenthood and gets into what it’s like to parent a special needs child. Brennan and his wife Erin have an almost-2-year-old with Dravet syndrome. One theme woven throughout is the importance of having time, money, and health at the same time. Then, the two focus on the topic at hand: investing for your kids. The Schlagbaums started investing for their first child, Logan Lee, before she was even born. They’re currently utilizing a brokerage, 529, and Roth IRA for their kid (she does baby modeling). Guess what? They have a second baby on the way in September! They’ve started investing for her now too. Brennan also tells Lauren about ABLE accounts. Then, they jump into the WHY behind investing for your kids, and balancing helping your kids versus making them entitled. Brennan says, “Create trust fund babies in a good way.” They briefly touched on UTMA &amp; UGMAs. Don’t forget, though, to take care of yourself and your retirement before investing for your kids. Brennan leaves us off with one more thing you can use to invest for your kids: real estate. If you liked this episode, you’ll also like 27, Teachable Moments for Kids and 129 with the Wealth Dad. <strong>About Brennan:</strong> Brennan Schlagbaum is a 31-year-old entrepreneur and personal finance influencer, but there’s more to the story than that. When Brennan and his then-fiancée Erin were “normal” 24-year-olds “building their life,” they couldn’t shake the oppressive feeling their mountain of debt gave them. Before they even said “I do” they had a mortgage, student loans, car debt, and consumer debt totaling over $300,000. As a numbers guy – Brennan is a CPA – he couldn’t live like this. Fast forward to today, the Schlagbaums have paid off all that debt and eclipsed $1,000,000 net worth. During their journey, it became clear to Brennan that he was meant to help others realize and achieve the same financial success that they had achieved, thus the Budgetdog em