Ask Terry Questions stocks for grandchildren

stocks for grandchildren

By Terry Savage on January 12, 2024 | College Savings / Student Loans

i have been buying stocks for my grandchildren, but i am not doing a very good job. i have been using an etrade account with myself as custodian for their accounts. can i use an etrade account to set up an account like a fidelity account? i want something that will earn regular returns

Terry Says

Well, I think you’ve been making a huge mistake — regardless of your investment skills. What you should be doing is investing in a 529 College Savings Account, where all the gains/growth will come out tax-free if used to pay college expenses. And that won’t have an impact on their financial aid for college.
Please read this:

Recent College Savings / Student Loans Questions



a personal
finance question