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Custodial Account For Minors - The Jumpstart you wish you had! UTMA UGMA
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Investing is not just for adults with retirement accounts. Childs can invest and build wealth too. One of the simplest ways to get this started is with a UTMA or UGMA custodial accounts. This will allow you to gift a minor money and invest it on their behalf. The custodial account for minors robinhood even allows you to buy fractional shares of company stock so you can get started with any amount. They are so many options on where to open these account. Vanguard, Fidelity, Charles Schwab, are just a few. This meaning you don't have to settle for 1% returns with a traditional savings account. This is why I opened my child UTMA as soon as I could. I go over all the details in this video to get you started on the right foot. Let me know what you think.
Link from the video:
Age of Majority, When UTMA/UGMA have to be terminated
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My other video's that may interest you:
How To Build Wealth From Nothing & Make it Generational!
529 College Savings Plan Explained
What is a Brokerage Account and How Does It Work?
How To Protect Your Emergency Fund | Money Saving Tips
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