<h1>Preparing for a Global Recession: Strategies for Future Financial Success</h1>
<p>Dad, is it true we're entering a global recession? Yep. What can I do to prepare? You stay put. I've got this.</p>

<h2>Open a Custodial Roth IRA</h2>
<p>First, I'm gonna open you a custodial Roth IRA at 11 years old. With cheap labor, I can put in $6,000 a year. This savings could be worth $53,000 by the time you're 18 and just under $2 million by the time you're 65.</p>

<h2>Build Your Credit History</h2>
<p>Next, I'm gonna make you an authorized user on my credit card. I'm going to make sure to teach you good credit habits. By doing this, you'll build up your credit score and inherit my great credit history.</p>

<h2>Get a Head Start on Your Peers</h2>
<p>By the time you're 18, you're gonna hit the ground running and get a headstart on your peers.</p>

<h2>Establish a College Savings Plan</h2>
<p>Then your mother and I are gonna put $160,000 into your 529 college savings plan, taking advantage of a one-time five-year lump sum loophole. No taxes. You'll be all set for college, even when it costs $11 billion by the time you're ready to go. It's a lot of cash.</p>

<h2>Long-Term Plans Amid Short-Term Volatility</h2>
<p>When short-term volatility is affecting all global markets, it's a great time to sit back and remember your long-term plans.</p>

Learn strategic ways to prepare for a potential global recession, including investing in a custodial Roth IRA, building credit, and establishing a college savings plan.