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Investments for children

MrJim

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The Hen that laid the Golden Legos
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Back in January I started a savings account at the bank for my granddaughter. I have made 8 cents in interest on $250. Looking for a low cost mutual fund to set up for her that will reinvest. I can go higher on dollar amount. Any tips? Want to do this on my own and not go through a broker. Just need to know where to start.
 
Back in January I started a savings account at the bank for my granddaughter. I have made 8 cents in interest on $250. Looking for a low cost mutual fund to set up for her that will reinvest. I can go higher on dollar amount. Any tips? Want to do this on my own and not go through a broker. Just need to know where to start.

Clark Howard would say get a Vanguard S&P500 index fund.
 
I started T Rowe Price accounts for all three grands when each was 1 or so.
The oldest is 12 and he has @ 15000 in his account

Granted I started buying at the bottom (2008 ish)

I hear buy them a few shares of a stock that they know and would find “cool” , interesting etc

Good luck , financial literacy starts young
 
Vanguard is who I use. You can call em anytime with questions. Start it online completely. Really simple.
 
Why not get her a few 1 oz Silver eagles each month, something she can touch and feel, maybe even learn the difference between Money and currency. Money, i.e. silver (and gold, palladium, platinum, etc) will never go to zero value. Fiat USD currency will....possibly soon
 
Why not get her a few 1 oz Silver eagles each month, something she can touch and feel, maybe even learn the difference between Money and currency. Money, i.e. silver (and gold, palladium, platinum, etc) will never go to zero value. Fiat USD currency will....possibly soon
Compounding interest is way better with investments. I have seen many people inherit coin collections than were worth no where near what was paid for them.
 
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