Anybody got any ideas for a mutual fund for a child investment? One I can do online or over the phone. Would like to start with $500-1000. Savings account at bank just ain’t doing it.
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Mutual Fund for child savings
- Thread starter MrJim
- Start date
Look into a 529 account, tax deferred/free savings for college, if that is your goal for your child. Clark Howard has done the legwork on these and has suggestions.
I have accounts with TrowePrice
Seems like minimum monthly is now $100
Unsure if any initial. I just picked s and p 500 Index
Seems like minimum monthly is now $100
Unsure if any initial. I just picked s and p 500 Index
With monetary collapse inevitable, commodities, i.e. are probably your best bet (that is what it is, a bet)...something you can get into and out of quickly....and turn into something of real i.e. inherent value.
With silver and gold, you have a prayer, with USD, nothing but air.
With silver and gold, you have a prayer, with USD, nothing but air.
Your bank may have an investment option. Mine does, and it's easy to transfer funds over from a checking account online. You might also look at a Roth IRA for them - it can also be used to pay for school, buy a house, and offers more flexibility. I think S&P 500 ETFs (exchange traded funds) are a better way to go than a mutual funds due to the lower cost / management fees.
Whatever you do check the load amount. These pirates are charging over 1% just to put your $ into an index fund.
529 Plan... your money will not be taxed when taking it out and used for school related costs. It is also transferable between kids. For example I had two 529 accounts for my two kids. One child is special needs and won't be attending college, so we merged the two accounts. Yes, Clark Howard has good resources for these plans.
