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re: What should these college kids do with the money in their savings/stock account?
Posted on 8/20/16 at 2:31 pm to amgslg
Posted on 8/20/16 at 2:31 pm to amgslg
What am I missing... why do they have that kind cash in a brokerage account?
I agree with the other comment with each setting aside a portion for an emergency fund. After that, I would look at setting up Roth accounts once/if they are working. Assuming they have 5-8k leftover, I would dump into an S&P or whole stock market index.
Too many people fail to take advantage of a Roth, so just opening one early is a good first step.
I agree with the other comment with each setting aside a portion for an emergency fund. After that, I would look at setting up Roth accounts once/if they are working. Assuming they have 5-8k leftover, I would dump into an S&P or whole stock market index.
Too many people fail to take advantage of a Roth, so just opening one early is a good first step.
1
Posted on 8/20/16 at 2:50 pm to Oenophile Brah
They had it in their savings and just moved it to their Schwab account. Now looking to invest. If they have an emergency, I would be their emergency fund. I'd like them to see growth so they get excited about investing and start saving a percentage of their monthly pay checks when they graduate. If they open Roth IRAs, they would have the same question ... Would you put it all [by all I mean whatever is in the stock market] in a single broad market index fund or would you split it up somehow?
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