Topic: Bitcoin for your children & future wealth distribution - page 6. (Read 984 times)

There are a lot of approach that you can do when it comes to your children with Learning about bitcoin But as much as it is important to have financial future and sharing your wealth, it is best to focus on their growth and development with their character.

Creating their own wallet and then depositing their continuity would be the ideal way to have your children be involved Bitcoin and somehow Continuously average, the entries that you have. Possibly in the future, it would be profitable.

I also have this same plans for my kids to pass on my bitcoin to them but what I intend doing is when they are above 12 years, I will start introducing them to bitcoin gradually but only the basic knowledge of bitcoin and as time passes on, they will be interested and learn about it themselves because by then, bitcoin news will be everywhere as digital gold.

To pass my bitcoin to my heirs, I will use timelock on their bitcoin so that it is when that time reaches that they can access their bitcoin investment. I think it is safe that way because it is only them that will know this.

Im not really that minding much as of now about speaking to them or mentioning about what crypto is since they are still young and it cant be possible that they would really be able to comprehend
but on the moment that they would really be reaching out such age or time then pretty sure that everything would really be explained to them accordingly. I wont really be making up that kind of
enforcing that they should be looking into crypto when it comes to their savings or whatsoever. All i do want is to share up that awareness on whats its benefits or utility or simply the opportunity
that it could give on some aspect, but of course you shouldnt really be forgetting about the risks involved about it because it wont really be that good if you do miss this one.

Theres the perfect time for everything and its something that you would really be needing up to do such thing when that thing arrives. We do have our own approach and plans
in life in regarding on sharing up the information about crypto specially into our kids.

Why not do both? We don't have the 529 savings plan for education but if it's possible to choose which exact plan to opt for you can change to a more price friendly one and have a personal college saving in Bitcoin. If the kids won't be needing it for another 8+ years, even a small amount of Bitcoin is enough to go a very long way

There are many topics where this has been discussed, I can't find them now, but if you search you will get some good ones. There has been a number of custodial services as well as non custodial wallet tools you can use to store Bitcoin for the future generation.

Anytime that this conversation comes up , I will.always say, let kids be kids. We should think that they would miss anything by not learning about Bitcoin at a young age. There is more to their life and development than Bitcoin. Therefore I would not agree to anyone forcing Bitcoin knowledge upon them when they should be taking, music lessons, dance classes, football classes. The only Exception is if the kid show repeated interest in knowing about Bitcoin.

My daughter is still very young, so we have time, at least I hope we do.
If I had to come with a plan right this moment I'd probably try to explain to her how bitcoin works and how to safely spend my coins in case I die all of a sudden.
It's a rare thing to happen and we usually don't think about such possibility, but I know someone who lost both parents in a car accident. They were coming back from a party in a cab and they both and the driver were killed, so these things do happen.


I'd do that just to see if she can keep it safe and manage her money, but I'd rather hold on to anything big like as I have years of experience in this.

I don't have any other savings apart from bitcoin. All I have is invested in real estate and cars, so if my kids ever need cash they'll have to sell properties or bitcoin.

How do you plan to introduce your children to Bitcoin? More importantly what is your long term plan for passing down the wealth to the next gen?

Do you plan to make them their own cold storage wallets and start depositing coins onto this instead of say finding a college savings account etc? Or have a diverse mix in many of these baskets?

I keep thinking about setting them up for success but I am much too early right now my kids are very young and they wouldn’t begin to even understand Bitcoin for quite a while.

But I am curious because I know I should be doing so much more to prepare them for what is to come, hopefully a very well positioned future and inheritance that I can give them.

Sometimes I feel that I am doing them a disservice by contributing to a 529 savings plan as opposed to their own Bitcoin storage accounts.

Perhaps I should open their own Roth IRA accounts and just contribute to that account and direct the funding to a Bitcoin ETF so I can ensure that they will have had early exposure to Bitcoin and ensure that they all have their own accounts. Sure it’s not the same as pure Bitcoin it’s paper Bitcoin but at least the exposure is there.

I still think that passing down the wealth for your heirs with crypto will prove to be very problematic. It’s surely something that could be unevenly distributed & deviated from the wishes of the will since there are no real safeguards in place to ensure each child / beneficiary gets what has been set aside for them, right? I think this will be more of a long term solution that will come down the line, the real issue here is that having such safeguards in place could very well compromise the intent of Bitcoin in the first place. These answers I believe would be achieved through custodial methods, or how else could one achieve this goal??