7 Ways Grandparents Can Help Their Grandchildren Financially

Helping grandchildren financially is about much more than simply giving money. Thoughtful planning can create opportunities for education, encourage healthy financial habits, and establish a lasting family legacy that benefits future generations.

This week on Money Sense, Nick Kibardin, MBA, CFP®, welcomes Sandy Miller, Wealth Advisor Associate at Ellenbecker Investment Group, for a conversation about seven ways grandparents can help their grandchildren. Drawing from both her professional experience and her role as a grandmother of seven, Sandy shares practical strategies for gifting, saving, investing, and passing along financial values that can make a meaningful impact for years to come.

The discussion covers everything from cash gifts and Roth IRA opportunities for working teenagers to 529 plans, custodial accounts, trusts, direct tuition payments, appreciated stock gifting strategies, and the newly introduced Trump Accounts. Along the way, Nick and Sandy highlight the importance of financial education and how grandparents can use these tools not only to transfer wealth, but also to teach responsibility and stewardship.

Episode Highlights:

1:20 | #1 Gifting cash and teaching financial responsibility
4:42 | Using earned income and Roth IRAs to build long-term wealth
5:43 | #2 Understanding the benefits of 529 college savings plans
9:41 | New flexibility for 529 plans, including Roth IRA rollovers
10:38 | #3 How custodial (UTMA) accounts can teach investing fundamentals
15:36 | #4 Using trusts to create a lasting family legacy
18:36 | #5 Direct tuition and medical payments as gifting strategies
20:42 | #6 The advantages and considerations of gifting appreciated stock
23:58 | #7 Exploring the new Trump Accounts and their potential benefits
28:15 | Educational resources available through Ellenbecker Investment Group
29:48 | Final thoughts on financial education, family values, and legacy planning

ELLENBECKER INVESTMENT GROUP
Presenter of the Money Sense Podcast. Ellenbecker Investment Group (EIG), a registered investment advisor, provides comprehensive financial planning and fiduciary wealth management services for individuals, families, businesses, and charitable organizations. EIG's planning-first approach helps clients align their financial decisions with their values, goals, and long-term vision for the future.
Website: ellenbecker.com

This podcast is for educational purposes only and should not be considered legal, tax, or financial advice. Guest opinions represent the views of the individuals speaking, and references to specific products, services, legislation, or organizations do not imply endorsement by Ellenbecker Investment Group. Before making financial, tax, or estate planning decisions, consult with qualified professionals familiar with your individual circumstances.