Thinking about taking a small amount (think $2k or less) of my 5 yo's savings and invest in some stocks or funds. I would self insure it so he would not lose any money and hopefully get more than the .1% he is getting at the bank. Anyone have any experience doing this? Wondering what the tax ramifications would be for him and myself mainly.
"If People Concentrated on the Really Important Things in Life, There'd be a Shortage of Fishing Poles." - Doug Larson
"Peace is not the absence of turmoil but the presence of God" Jo-Ann Thomack
Just put it in a Vanguard Star Fund
Every day work-every day pray. I won't back up, I don't back down, I've been raised up to stand my ground. Shotgun toter, republican voter.
GOD
One Nation
I’d open a vanguard account and put it into (VTSAX) total stock market mutual fund and let it ride.
1999 Stratos 273 Vindicator 2013 Yamaha 150hp HPDI Vmax
I’d open an account for him wherever you choose. I like fidelity for long, and buy some TSLA stock and forget it
Thanks guys.
"If People Concentrated on the Really Important Things in Life, There'd be a Shortage of Fishing Poles." - Doug Larson
"Peace is not the absence of turmoil but the presence of God" Jo-Ann Thomack
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