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Investments for kids
Posted on 2/22/10 at 4:33 pm
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. 
5
Posted on 2/22/10 at 4:36 pm to TigerKAPs
Money Market Accounts, Certificate of Deposits, low risk Mutual Funds, T-Bills are all relatively safe.
Posted on 2/22/10 at 4:41 pm to Jcorye1
quote:
T-Bills
Stay away if you actually want to earn anything. They basically stay with inflation in general.
CD's could be good and they are very simple.
I would probably go with either:
A) CDs
b) Low risk bonds
c) Low risk large cap stocks
Posted on 2/22/10 at 6:08 pm to TigerKAPs
You realize the typical advice is that the younger you are, the more risk you should take?
Posted on 2/22/10 at 6:09 pm to foshizzle
quote:
You realize the typical advice is that the younger you are, the more risk you should take?
Unless you need it in a few years to pay for college.
Posted on 2/22/10 at 7:11 pm to Parliament
quote:
Unless you need it in a few years to pay for college.
quote:
The money I am talking about investing for my kids is money received from birthdays, grandparents, etc.
Then these presents are a damn sight better than I ever got!
Posted on 2/22/10 at 7:39 pm to TigerKAPs
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?
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 on 2/22/10 at 7:49 pm to Bayou Tiger
I did read about DRIPs earlier today, very briefly though.
Yes, I do realize that the younger you are, the more risk you should be willing to take, but I am talking about something very simple for my kids. Basically something to let the money sit there and grow over the years. I am looking into some companies for CD rates.
Thanks for the input.
Yes, I do realize that the younger you are, the more risk you should be willing to take, but I am talking about something very simple for my kids. Basically something to let the money sit there and grow over the years. I am looking into some companies for CD rates.
Thanks for the input.
Posted on 2/22/10 at 7:50 pm to TigerKAPs
Look up 529 plans if saving for college.
Posted on 2/22/10 at 8:46 pm to Ric Flair
I would be wary of buying any long term bonds.
Interest rates are really in the shitter these days, you will most likely regret it.
Interest rates are really in the shitter these days, you will most likely regret it.
Posted on 2/22/10 at 8:56 pm to TheHiddenFlask
quote:
Interest rates are really in the shitter these days, you will most likely regret it.
This is true.
Posted on 2/23/10 at 11:40 pm to TigerKAPs
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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