‘I’ll teach her how to use money as a tool’: a podcaster’s plan to make her daughter a millionaire

Podcaster and author Jannese Torres is building a financial foundation for her 15-month-old daughter with the goal of making her a millionaire by age 18 through early and aggressive investing.

Torres, host of the Yo Quiero Dinero podcast, has already accumulated roughly $13,000 for her daughter across a 529 college savings account, a brokerage investment account, and a Roth IRA ^[1][2]. The toddler qualifies for the IRA by earning a $625 modeling fee when she appears in Torres's social media content ^[1]. Torres estimates that if she puts aside $2,000 per month for the next 17 years, her daughter will reach a seven-figure net worth by the time she turns 18 ^[1][2]. She emphasizes that starting early is critical because of the power of compound interest ^[1][2]. Torres noted that if she had begun investing with her first job at 14, she likely could have had a seven-figure net worth by age 30 ^[1]. She encourages parents to view 529 accounts as flexible tools that can fund technical school, trade school, or private high school, not just a traditional university degree ^[1][2]. As of 2024, up to $35,000 from a 529 can also be rolled over into an IRA for the child ^[1]. Torres frames the savings effort as a group project, noting that friends and family can send contributions directly to a 529 account ^[1]. She acknowledged that for many families, finding even an extra $50 to $100 a month can feel prohibitive, but stressed that something is better than nothing ^[1].