What Is The Best Mutual Fund To Invest My Seven Year Old Son's Money?
I want to start investing money that my seven year old son has saved. I’m thinking about putting it in a mutual fund; which would be the best?
I want to start investing money that my seven year old son has saved. I’m thinking about putting it in a mutual fund; which would be the best?
One of the best is a college account from T rowe Price. The university system in my state uses T Rowe and everyone seems to be very keen about it.
If you would like to use this money for your son’s college education some day. It would be best to open a 529 college savings plan offered by your state of residence. The investment will grow tax free if you use the money for college and you will get a tax write off on the investment. Please email me if you would like more detailed information. richardjackel2000@yahoo.com. I would be very happy to help you
I would recommend the Vanguard Star fund. $1000 minimum to start, low cost and it invests in a combination of otther vanguard small, large and international stock funds and bond funds. I put my daughter’s IRA in this fund.