Investments for babies?

[scott123456789]

Son is about to turn 6 months old, I’m not sure how but he has already saved a couple hundred in birthday money. Besides spending it on hunting/fishing gear I can’t decide where to put the money.

Open a High Interest Online Savings Account?
Throw it in a CD?
Open a brokerage account and buy stocks/mutual funds?
Or...

[philcam]

529 education fund?

[HoustonHunter]

My boys are 4 and 1. For their money, I fund 3/4 into a 529 and 1/4 into a savings account.

The 529 is for college and the savings is for a truck or other large purchase needed at 18.

[Walker]

Don't know what the rates are now but US savings bonds used to be good for college savings.

[TheHammer]

I have a regular savings account for my son. Probably better options, this was just the most convenient for us.

[bbqfan5909]

529 and take advantage of no capital gains tax.

[scott123456789]

This was more for saving towards his first car etc.

[Shane]

15ish years is a long time to leave money sitting in a near-zero growth savings account. Inflation will eat up more than it will earn over that time frame.

[bbqfan5909]

15 years, I’d put that money into stock market.

This was more for saving towards his first car etc.

[Wayspr]

I’d buy an S&P 500 index fund and forget about it.

[scott123456789]

Tried to open a joint brokerage account and apparently there is an age minimum. Will probably just add a separate brokerage account to mine and direct his funds there. Then buy an index ETF.

[tdwinklr]

The pre-paid college tuition plans. You pay tuition prices as they are now vs. what they will be when the child graduates high-school (much higher), and they have 10 yrs from HS graduation to use it. And if they don't go, you can cash it out with a penalty.

[1riot1ranger]

save it till enough for a lifetime hunting/fishing license. Always wanted to get one for self or kids and never did. Now that they've moved out of state and have to buy out of state license when they come back I wish I had done that. You'll have plenty to invest other ways before college.

[thegrouse]

Schwab has a no fee brokerage account with no minimums. I would buy an index fund and forget it. When he is old enough explain to him how it works and let him know he is part owner of the blue chip companies

[twistedmidnite]

We do the 529 plan.