MILLIONAIRE KID HACK

@financekylee

15.9K followers · usually 820 views a post

Views

210.1K

Likes

6.8K

Comments

112

Shares

3.2K

SoundTikTok sound · original sound - summ3r.audios

Why it worked

The video provides high-value, actionable financial advice in a concise, easy-to-read format that promises a massive long-term payoff for parents.

Summary

The video provides a financial tip on how to potentially build a $4 million tax-free retirement fund for a child using a 529 savings plan and a Roth IRA rollover. It outlines a step-by-step strategy involving monthly contributions and long-term compounding.

Structure

1Identify the financial hack
2List the step-by-step investment plan
3Explain the long-term growth potential

On-screen text

MILLIONAIRE KID HACK TAX-FREE LEGAL LOOPHOLE 1. Open 529 Savings Plan 2. Contribute $60/month for 18 yrs 3. By 18, they'll have $35k invested 4. Roll $35k into ROTH IRA (IRS limit) 5. Have them contribute $100/month 6. By 65, they'll have $4 MILLION+ TAX FREE

Original caption

You put $60/month into a 529 starting at birth. At a 10% average return, that’s about $36k by their 18th birthday. Congress now lets you roll up to $35k of unused 529 money into a Roth IRA in your kid’s name. That $35k, plus $100/month of their own contributions from 18 to 65, compounds to over $4 million. Tax free. The fine print: the rollover isn’t a lump sum. It happens over several years because each year counts against the annual IRA contribution limit. The 529 has to be open at least 15 years, and your kid needs earned income in the years you roll it over. None of that changes the strategy. It just means the clock matters. The account you open this month is the one that qualifies in 15 years.