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re: Stock for Niece/Nephew/Godchild
Posted on 12/5/14 at 11:48 am to lsu13lsu
Posted on 12/5/14 at 11:48 am to lsu13lsu
I did it for my own children when they were in early elementary school. I asked them what businesses they liked and explained I would buy some stock in those companies for them so that they could be part owners of the companies.
The chose Disney, Coca-Cola and McDonalds.
So I set up brokerage accounts for them with me as the custodian of a minor's account and put the cash into their account periodically and then buy their chosen stocks.
Their accounts allowed them to pay their way through college (in addition to TOPS and a little additional help from mom and dad) without having any student loans.
The chose Disney, Coca-Cola and McDonalds.
So I set up brokerage accounts for them with me as the custodian of a minor's account and put the cash into their account periodically and then buy their chosen stocks.
Their accounts allowed them to pay their way through college (in addition to TOPS and a little additional help from mom and dad) without having any student loans.
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