New answers tagged children
1
Since you don't want to use the account to save for college, you can either setup a regular brokerage account for yourself and gift the money, or setup a UGMA/UTMA.
The brokerage account means you have full control of the money and the child has no claim on it, ever. Once you want to give money to the child, you can simply withdraw and gift it. You will ...
-6
If the investment is put into the child's name then they get control of it at 18 years old.
The $50 a month for 18 years is $10,800. The good news is that the small amount of money per-month can be put into most anything because discount stock brokers have gone to zero commissions. The simple answer is to get a discount brokerage account.
However since the ...
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