If you want to give your child some serious money and a lot of leeway, fund a Uniform Transfer to Minors (UTMA) account, which enables a child to hold - but not own - investments until she's legally an adult.
Until then you can decided how the funds are handled in any way that is for the well-being of the child.
It's a great way to get a child interested in investing, says Allen Bronton, a wealth manager in Crystal Lake, Ill., "because this is going to be money that they're going to get one day."
|
|
|
|
 Best investment: Vanguard Total Stock Market Index
Best way to give kids a firm financial footing: An UTMA account
| A remodeling trend may look good on paper, but it may not make your home more livable - or more valuable. These five alternatives will. (more) |
© 2008 Cable News Network. A Time Warner Company. All Rights Reserved.
Terms under which this service is provided to you. Privacy Policy
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
| Copyright © 2008 BigCharts.com Inc. All rights reserved. Please see our Terms of Use. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. All Times are ET. Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use. Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data. Fundamental data provided by Hemscott. SEC Filings data provided by Edgar Online Inc.. Earnings data provided by FactSet CallStreet, LLC. |
