[Gwen]

Ok, so let’s say I want to get my kids started on a path to FIRE one day. If I were to invest $10,000 for each of them for maximum growth, what should I do with that money?

They are still school age.

I am looking for guidance on the best ways to invest $10,000 for each of my children to maximize their growth over time.

My primary goal is to secure their financial future and ensure that the funds are utilized effectively.

I would appreciate insights on various investment options, including stocks, bonds, mutual funds, or other vehicles that may offer significant returns.

Additionally, I’m interested in understanding the advantages and disadvantages of each option, considering factors such as risk tolerance, time horizon, and potential tax implications.

If you have personal experiences or expert advice on investing for children’s education, long-term savings, or wealth accumulation, please share your thoughts. What strategies have worked best for you?

Are there any specific platforms or funds you would recommend?

Thank you in advance for your valuable input!

[AC]

If they can get any type of income from anything, such as modeling, for a local business, or your own, lawnmowing or any other things, try opening a Roth IRA for tax-free growth

[David]

Instead of funding a 529 or index funds, use those funds as a down payment on a house and then rent it out. By the time the kids are college to age, they will have a good passive income stream, a house almost entirely paid off, and a huge amount of appreciation.
I did this for my kids 3 years ago.

Down payment: $25k
Total mortgage pay down to date: 20k
Appreciation to date: 70k
Positive cash flow:$400/month
In 3 years, their college fund has grown by 360% and that doesn’t include the monthly income.

This growth is many multiples of any fund you might invest in. Just the mortgage pay down beats the market.

[Rob]

We opened a Fidelity Total Stock Market fund for our 11 year old when he was 8. You’re good with any S&P 500 or Total Stock Market fund in Vanguard, Schwab, or Fidelity.

[Srinivas]

remember at 18 they will have full access and rights to their funds and dont know if you have mentioned this to them it cud be a sort of not much encouragement for them to kick ass and do their best so just my 2 cents!

[Kathy]

I opened a 529 and a stock account. 529 paid for 4 years of college and stock account will be a down payment for a house

[Christine]

Custodial brokerage with Schwab or Vanguard
Just remember any money in their name will be reported on FAFSA

[Author]

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