A finance podcaster plans to make her daughter a millionaire by 18 – here’s how

Podcaster and author Jannese Torres is aiming to build a seven-figure financial foundation for her 15-month-old daughter, having already accumulated roughly $13,000 across multiple accounts [1]. Her plan hinges on saving $2,000 monthly for 17 years to leverage compound interest [1]. Torres, host of the 'Yo Quiero Dinero' podcast, has established a 529 college savings plan, a brokerage account, and a Roth IRA for her child [1]. The toddler qualifies for the IRA by earning a $625 modeling fee when featured in her mother's social media content [1]. 'My whole goal is making sure that she has as many options as possible, because I didn’t have that for myself,' Torres said [1]. She encourages using 529 funds for trade schools or private high school, not just four-year degrees, and notes families can contribute collectively [1]. To supplement savings, Torres advocates for earning extra income, pointing to freelance platforms like Fiverr, an Israeli online marketplace for freelance services [5], and Upwork, an American freelancing platform [6]. These global platforms are part of a broader freelance economy that includes competitors like Freelancer.com, an Australian marketplace founded in 2009 [7]. Torres, who grew up in a Puerto Rican family in New Jersey, said financial products were feared in her home after her parents filed for bankruptcy [1]. She now teaches her 100,000 followers to view money as a tool, countering advice like, 'Don’t get a credit card, because they’ll ruin your life' [1]. While her $2,000-a-month target may be prohibitive for many, she stresses 'something is better than nothing' to reduce future debt burdens [1].