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Investment for child - what to go with?
Posted on 1/2/14 at 10:22 pm
Posted on 1/2/14 at 10:22 pm
We opened a savings account for our 8 month old and we've had several family members put money in there for him for Christmas, etc and they will for his birthdays and other occasions. Obviously we don't want to just leave this money in a standard bank savings account. What is a good investment to move this money into to grow for him? TIA
4
Posted on 1/2/14 at 10:27 pm to VanRIch
Franklin income fund. Safe investment and reinvest the monthly dividend.
Posted on 1/3/14 at 8:21 am to VanRIch
I am about to pull the trigger on this as well and looking for options here.
Posted on 1/3/14 at 8:42 am to 4LSU2
Are you wanting this money to be used for college? If so 529 plans are perfect.
Posted on 1/3/14 at 9:56 am to roguetiger15
Not necessarily, I wouldn't want to invest into something where he couldn't use it for something else if he wanted to.
Posted on 1/3/14 at 10:27 am to VanRIch
Agreed. Most 529 plans also offer somewhat limited investment options and their funds charge fairly exorbitant fees. They are great investment vehicles for putting your contributions on auto-pilot but don't expect great returns. A mixture of 529 and UGMA investing would be advisable.
This post was edited on 1/3/14 at 10:33 am
Posted on 1/3/14 at 10:56 am to VanRIch
A good MF or ETF will be good for solid returns and risk avoidance.
I'm putting some away into some Blue Chip dividend stocks for my son on a DRIP. Disney, Apple, XOM, etc.
I'm putting some away into some Blue Chip dividend stocks for my son on a DRIP. Disney, Apple, XOM, etc.
Posted on 1/3/14 at 11:00 am to LSUtigerME
How much money are we talking about?
Posted on 1/3/14 at 10:36 pm to Janky
Either a Fidelity, T Rowe or Vanguard health care mutual fund. Last year's returns were: 56.27%, 51.4% and 43.27%.
I have had the Vanguard since 1997. $50K is now $267K
I have had the Vanguard since 1997. $50K is now $267K
Posted on 1/3/14 at 10:36 pm to VanRIch
Look into a mutual fund that reinvests dividends. That's what my folks did for me and its a great low risk, long term idea. One that has done well for me is VOO. Vanguard 500 Index Fund. Also ANCFX and AIVSX are the ones my parents did for me.
Posted on 1/4/14 at 8:14 am to JumpingTheShark
If you're going to do an index fund find one that mirrors the s&p
Posted on 1/4/14 at 7:57 pm to roguetiger15
Ive had great returns and like american funds if its not too much money. AMECX and AMCPX are what I put my kids in
Posted on 1/5/14 at 12:38 am to roguetiger15
Shark and Rouge: I have also had the Vanguard 500 fund since 1997. $20,000 is now $40,000.
Wish I had bought only the health fund VGHAX.
Wish I had bought only the health fund VGHAX.
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