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re: Kindergartners and Bank Accounts
Posted on 3/13/13 at 8:31 am to Bayou Tiger
Posted on 3/13/13 at 8:31 am to Bayou Tiger
Buy a few shares of a stock in a company he knows and likes, for example, Disney or Coca-Cola. That's how I got my kids interested in the stock market and how businesses need to make a profit.
2
Posted on 3/13/13 at 8:43 am to LSURussian
Emancipate him now and explain to him how when he graduates from high school he will be able to get grants to go to college and won't have to pay back the money. I actually have an acquaintance who's parents did this to him while he was in high school at Dunham. He says its was probably a pretty crappy thing for his parents to do to work the system, but it worked and a lot of his colllege was payed for by grant money. He is now a financial adviser in the Baton Rouge area.
Posted on 3/13/13 at 9:14 am to LSURussian
quote:
LSURussian
How do you go about setting this up? I guess my question is related to taxes and what not? Do you put it in their name? IRA? Education Savings Plan?
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