Ideas for Gifting to Kids and Life Insurance Thoughts?

Written By Michael Custer

In this episode Michael, CFP®, EA tackles three big listener questions. 1. How should we save for kids beyond a bank account, 2. Whether a 26‑year‑old really needs life insurance, and 3. How much life insurance should a family actually carry?

Topic overviews:

💭 Investing money for kids

💭 Why a brokerage/Non-Retirement account could be a useful family planning vehicle

💭 Tax ideas that are available when parents gift investments rather than cash

💭 Does whole life insurance make sense?

💭 How much life insurance might your family need?

💭 Why layering term policies may help match your timeline and net worth

💭 The real conversation couples should have about life insurance before choosing an amount.

Great questions, hope you find this helpful!

Michael Custer

Michael graduated from Hope College where he played Quarterback for the football team. Now, he focuses on tax strategies, helping W-2 employees and small business owners with implementing tax strategies, learning their choices with old work retirement plans, and Roth IRAs. He has a passion for building a relationship with his clients. Understanding why money matters to you is important to him. He firmly believes that finances can be a powerful tool for your life goals.

Michael is a CERTIFIED FINANCIAL PLANNER™ (CFP®) and also holds his Series 7, Series 66, Series 24. and SIE registrations with LPL Financial as well as his Life, Health, Property and Casualty insurance licenses.

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