Stock present for grandkids
Have many grandkids and want to open an account for $25.00 each so they and me may add money and purchase stocks. What is the best way to do this
Terry Says
Well, you might want to think twice about that idea. First, when they are 18 the money becomes theirs to spend as they wish. Second, if the family is going to apply for financial aid for college, money in a child’s name weighs much more heavily against the family in the financial aid formula!
But if you’re determined to teach them about investing, go to www.Stockpile.com, where you can buy any major stock or eTF with a miinimum $5 investment. There are also teaching tools. l You can buy them a “gift card” for each birthday so they can choose a stock of their choice.
