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CD investing for son

By Terry Savage on January 10, 2022 | Wild Card & Pandemic Related

I have a 56,000.00 C D that I started for my son 42 years ago. What should I do so that he has something as he gets older. Should I get him an IRA or should I invest it in something. Please I would appreciate your input. Thank you

Terry Says

How old is your son? Is he working? Is he married? Do you have grandchildren?
Very important: How is the account holding this CD titled? Is it still a custodial account?? Whose SS number is on it?
And does your son even know about this money:
Good for you for setting money aside so long ago. But without more info I can hardly make a recommendation.

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