Not Every Baby Is Born Into Royalty But Yours Can Still Prosper

Prince George, or Georgie, as he will be called, was born in July to much fanfare and anticipation. 

What does it mean to be born into the House of Windsor?   Even though he likely won’t exert his political power when he becomes king, he will still be influential.

And he will be worth a pretty penny. 

According to International Business Times, he will inherit 700 million pounds.  There’s no doubt little Prince George is already one of the wealthiest babies in the world.

Of course, not every baby is born into royalty, with the proverbial silver spoon.  Chances are, you probably wouldn’t want that life for your child anyway.

While you may be from modest means, you CAN help your child get a financial advantage over many of his peers by taking important steps when he or she is young.

7 Ways to Set Your Child Up Like Royalty

7 Ways to Set Your Child Up Like Royalty

1.  Invest in a 529 savings plan.

Of course, only do this if you’re already contributing to your own retirement fund.  If you don’t have a lot of extra money to contribute to a 529 plan, don’t despair.  Know that every little bit helps.  Even if you just start with $25 a month when the baby is born, you’ll get in the habit of setting something aside.  As you are able, you can increase the amount you contribute each month.

What’s nice is in many states you get additional tax breaks as well.

2.  Invest in their name.

Some companies like let you give stock to someone else as a present.  OneShare even offers a program, My First Stock for gifts for young investors.

If this is your first child, you’ll soon see how many toys well meaning relatives will give the baby.  If relatives ask for gift suggestions, you might gently encourage them to invest for your child rather than giving them toys.

3.  Help them open their own savings account.

When your child is somewhere between the ages of 5 and 7, he’s ready for a savings account.

Many financial experts recommend that all money your child receives get separated into different categories like give, save, and spend.  Encourage your youngster to put her save money in the bank.  If she needs some convincing, you can match what she saves.

This important step teaches your child at a young age to be a saver and that not every dollar that crosses her hands is available to spend.  You can even chose an online account like Capital One 360 that not only lets kids open a savings account that pays .75% interest, but also has fun money tools for kids to learn more about handling money responsibly.

4.  Lead by example.

Children will learn the majority of what they know about money by your example.  Even more than what you say, they watch what you do.  If you handle your money responsibly and don’t let it bring anger and strife into your home, they’ll likely have a healthy relationship with money, too.

5.  Discuss money with your children.

Many children think money just appears.

You need money?  Go to the ATM and the money machine gives you money.   Teach them the correlation between work and money.  Explain how to make smart purchases.  Explain your own money mistakes.  Perhaps most importantly, educate your kids, but let them make their own money mistakes.

6.  Help them open a Roth IRA when they are young.

Early investing is the name of the game when it comes to retirement savings.  Many think that means investing after a child graduates from college, but think even earlier than that.

Did you know a child who is receiving a paycheck can open a Roth IRA?  If you’re teen starts work at 16, take some of that money and invest it in a Roth IRA.  Think of all the years of compounding interest he can benefit from.

If your child is particularly money-minded, he may be convinced of the benefits and invest willingly.  If he’s more like a typical teen, he may need some convincing.  You could agree to match the amount he invests.

Don’t forget, if you own your own business, you can hire your child to work for you earlier than 16.  That means he could invest in his own Roth IRA at an even earlier age.

7.  Create a spirit of entrepreneurship.

Being an entrepreneur is not necessary to be financially successful, but it sure can make things easier.

Teach your child to look for needs that people have and to create her own jobs to fulfill those needs.  Teach your child this important lesson, and hopefully she will never be without a job.  Even better, she’ll be able to work at jobs she loves rather than just working for a paycheck.


Your baby wasn’t born to a predestined future (that happens to include millions) like Prince George, but follow these steps, and you will put him on the road to a wealthy life, both financially and personally.

What other steps would you suggest to secure your child’s financial future?

Free Newsletter to Keep you Free From Broke!Name: Email: We respect your email privacyPowered by AWeber email marketing
Published or updated October 3, 2013.


  1. Our daughter is not yet born, but we do plan on teaching her the values of living within her means and saving. We’ll save for us and also show her the ‘ropes’ from an young age. She won’t be a royalty, but at least she should turn into a responsible adult if we’re doing our job well 🙂

  2. Hey Melissa,

    Good point, especially regarding the, investing in their name point. If they get some stock and it compounds for 18 years before they access it, then it could put them in very good shape for college…or even their retirement.


What Do You Think?