How To Make Your Child a Millionaire….


Another Monday, another money blog post! Today let’s talk about how to make your child a millionaire by their 31st birthday, or sooner.

It Only Takes $500 A Month 

$500 a month invested over 29 years in the S&P 500 CAN turn into $1M by your child’s 30th birthday!

Just FYI, next week I’m going to dive DEEP into steps on creating generational wealth thanks to my recent collaboration with Navigate Financial. But until then, let’s talk about Custodial Accounts! By definition, “the term custodial account generally refers to a savings account at a financial institution, mutual fund company, or brokerage firm that an adult controls for a minor (a person under the age of 18 or 21 years, depending on the laws of the state of residence).” – Source Investopedia

This probably isn’t new for those that have read up on my Top 5 Accounts To Open For Your Kid(s) post. A custodial account is a great savings account to start for your child. I know majority of people cannot afford to open one better yet two accounts for their kids so if choosing between a 529 (education account) and a custodial account then most advisors will recommend a custodial account first. 

**Note, I’m not an advisor and simply here to share my financial journey with you as well as summarize and share advice from my financial advisor


This is REALITY for many people. I get it. Inflation and cost of living are AT AN ALL TIME HIGH. Not to worry I’ve got a solution for you! Let’s say you don’t have an extra $500 to put aside for your kid…well I’ve broken it down in three simple steps below to get some $$$ to create and grow your child’s custodial account. Note, this approach will not make you $500 but it is better than $0. 

  1. Create an Instagram/Facebook/YouTube profile for yourself or your child (they don’t have to be in the film) 
  2. Find commission based pages for kids clothes, kids toys, and anything related
    • **the assumption here is that you’re spending $$$ yearly buying your child and other children clothes and toys whether it be out of the kindness of your heart or birthdays/Christmas.
  3. Every time you buy said present or outfit for your kid go to their site and use your child’s code. A lot of these kids brands have commission sales upwards of 15% or more. You now generated commission based sales for your child and it cost you NOTHINGEXTRA.
    • Also, companies like Old Navy and Amazon have these same programs so you can use this same method for non-child purchases too!

Here’s a link to a list HERE of affiliate programs for families and children to get you started. However, I highly recommend you do your own research as there are SO MANY!

Real Life Example

So I’m going to give you a real life example of how I use this same strategy with the Viator Program. As a lot of you may know I love to travel. Often times when we travel we’ll book a tour or two. I have an an affiliate link with them and can generate a new link for any tour on their website at my pleasure. 

So of course I send the link to my husband and have him book the tour, as we already would have (not spending ANY extra $$$), but I earn commission on it. Or we get some $$$ back. Look at it however you want but applying this same strategy for my son and depositing the “commission” sales to his custodial account. 

I also recommend sharing your affiliate link or code with friends and family members. Again, not asking them to buy anything BUT if they already are buying all their basics at or holiday pajamas at Old Navy then why not help your child(ren) earn a little $$$. 

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