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Investments for kids

Posted on 2/22/10 at 4:33 pm
Posted by TigerKAPs
The Louisiana State
Member since Jun 2008
242 posts
Posted on 2/22/10 at 4:33 pm
Where/what is the best & safest place to invest money for kids? Looking for something with a better rate than a savings account. The money I am talking about investing for my kids is money received from birthdays, grandparents, etc. throughout their upbringing until they're 18. Thanks in advance.
Posted by Jcorye1
Tom Brady = GoAT
Member since Dec 2007
71648 posts
Posted on 2/22/10 at 4:36 pm to
Money Market Accounts, Certificate of Deposits, low risk Mutual Funds, T-Bills are all relatively safe.
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 2/22/10 at 6:08 pm to
You realize the typical advice is that the younger you are, the more risk you should take?
Posted by Bayou Tiger
Member since Nov 2003
3659 posts
Posted on 2/22/10 at 7:39 pm to
Try a DRIP. Exxon used to have one that I invested in when I was young. Basically, you sent the check directly to the company instead of to a brokerage, so no transaction fees were involved. My dad would always match me 100% when I invested. Over the years I saved a lot of money.

https://www.dripadvice.com/best_drips.html (as of 2006, at least)

Oddly, I can't find information on this program. Does anyone know if it still exists for Exxon?
Posted by Ric Flair
Charlotte
Member since Oct 2005
13703 posts
Posted on 2/22/10 at 7:50 pm to
Look up 529 plans if saving for college.
Posted by ElleshooTGR
Red Stick
Member since Sep 2007
2848 posts
Posted on 2/23/10 at 11:40 pm to
I have been investing in silver for a while and I would say it's a great investment and safe at that..
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