Video: Personal Finance

video transcript

Tell me you know. -- child actors fame and money can vanish in nano second. Honey boo birds 4000 dollars an episode that's roughly 40000 bucks -- season. Lot don't -- -- So what should honeymoon would do to make sure she doesn't lower fortune in case your famed right. He sort of planning for after the show while you're a lot of people don't really think like everything about him. -- and other financial experts suggest. One set up a trust fund. Mama -- Shannon -- financially sound heavier than she -- She says the line share of the family's paycheck is directly deposited to trust funds for boo -- and her four sisters. The kids can't touch the money until they turn 21. Except for school or medical emergencies. Beyond the trust fund they could invest part of who was income in a 529. The tax free college savings plan. It's like Georgia five point 98 based managed allocation plan. That invest aggressively in stocks and bonds when she's young but -- still more conservative and it's favoring bonds as seniors ecology. Flynn says she should set aside enough to cover the costs of attending a public college. -- -- can write off -- to 2000 dollars in taxes for any additional contributions she makes to the fun. Assuming an aggressive 8% annual rate of return to racing nearly 90000 dollars you'll need for college. Who who have to put 450 dollars a month. Or 5400 dollars a year. Into the five when he beyond that perhaps do something outside here towards count because there are tax and penalties if that money and has not used. For college expenses. So three. Parents can set -- an investment account and -- -- separate account loosening. To track crass. Lipper's research it kept -- recommends sucking all of it -- equity yes. A 5050 split between them very diversified low cost -- -- total stock market. And vanguard total international stock yet. -- For protect your ability to make money. -- partner Jordan Waxman now as well for which entertainers that she could alternately use in oncology money to -- disability insurance. Finally wouldn't turn -- can restructure her trust. Differ receiving the bulk of the non college money until she turns thirty. So that money has more time to grow as a window there where you can talk about this trust and saying let's restructured so maybe you get the income. For some period of time but the actual principles some election money -- mean come to you until you're 3035. Retail for one point out that the Arctic he bought the governor's -- Those got a nice game. Wounded an epidemic in immaculate eighty senator. Source of it to welcome. Yeah.