Ask HN: Investments/Savings for Infants

https://news.ycombinator.com/item?id=1989162

by strooltz • 16 years ago

2 3 16 years ago

news.ycombinator.com

OK - so I'm thinking about christmas presents for my brother, his wife, and their 2 month old. They have more clothes and diapers then they know what to do with and both make very comfortable livings.

I'd like to put away some money for my nephew in some sort of investment vehicle that cannot be touched until he's 18 (or out of college). I was wondering if there were any funds, CDs, ETF's or other investment tools I should be researching. Please, share your thoughts/experiences.

timf• 16 years ago

Search for information about 529 plans for college savings, see if that fits your intent.

Otherwise you should be looking at trust funds, I think, if you want to keep the money away from the child/parents by law until a specific point in time or condition.

fapi1974• 16 years ago

I've actually often thought there is a business idea here - there is no easy way to give kids investment gifts without a bunch of painful dealing with banks.

Shooter• 16 years ago

A 529 is the way to go for this sort of thing...much better than the savings bonds I received as gifts when I was a child.

My son's 529 is with USAA...they have great customer service, free financial advisory services, and their plans have a great performance history (relative to other 529 plans.) Setting up a 529 is also one of the most pain-free financial planning things you can do, IMHO.

Ask HN: Investments/Savings for Infants

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