Investment for great grandchildren
Approximately 7 yrs. ago I invested $1,000 with Monetta Core Growth – Fund 1 for two great grandchildren. Since that time there are four more “greats”. I saw Stockpile.com in one of your columns. I would like to invest $1,000 for new “greats”. Do you have any advice? I enjoy radio, columns. Mary/87 yr. old “great”.
Terry Says
Well, you picked a good time. I hope by the time they are grown today’s prices will look like bargains!
You know, if you invest as custodian for your great-grands (or make your adult child a custodian) the money in these accounts will weigh heavily against them if they every apply for financial aid for college. That’s why I typically suggest a 529 Savings Account. (search my columns for details)
But for this small amount, sure use Stockpile.com to buy a few shares. What companies do I think will “survive and prosper” in the long-term future, without regard to today’s price? Pick companies that your kids will know — Amazon, Apple, McDonalds all come to mind.
