Child investing
What is the best place to put my child’s 8 th graduation money, to help her earn more.? Approximately 2000$
Terry Says
And tell me why a 12-year old needs to “earn more” money?
Did she “earn” this money — and is watching over her investment choices? Likely not!!
Is this money you’re saving for her college expenses –and so YOU need to earn more money?
In that case, open a 529 college savings plan (read this) and the money will grow and come out tax free for use at any college or university.
You don’t want to put money in a custodial account for a child, because it will weigh heavily against you in the financial aid formula. That’s why you should use a 529 plan, which avoids this problem.
