The 3 steps to making your kid a "Trust Fund Kid" on a middle class salary

These are the 3 steps to making your kid a "Trust Fund Kid" on a middle class salary. Step number 1: You're gonna open up a 529 plan. Put $150 a month into that account. All the money in this account, you're gonna invest in S&P 500 index funds like VOO. Step 2: You are gonna open up a UTMA account. Every single month, you're gonna put $75 into that account. And again, you're gonna invest all of that money into S&P 500 index funds like FXAIX. And then step 3, you're gonna open up a Roth IRA for your kid. Your kid is gonna need earned income in this account. And so if they don't, what you're gonna do is just open up a second 529 plan. I'll explain why. Then every month, invest $73 into this account. And you guessed, put all that money into S&P 500 index funds like IVV. Because if you do all this, you'll have $72,000 that they can use to pay for college. Basically allows them to spend $18,000 per year. That's enough to cover the cost of the average in state college. Also have $55,000 that they can use as a down payment on their first home at 22. It means that they can rent to each of their friends and begin their real estate investing journey. Lastly, that second 529 plan will end up having $35,000 in it. That is actually perfect because you can roll over up to $35,000 to a Roth IRA, and they can't touch that money until they're 60. Which means that even if they never invested again, they would retire a tax-free millionaire.