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Anonymous

20 Feb 2024

General Investing

How to set up an investment account for a child?

I'm planning to open an account to purchase ETF for my kid below 12 yo. The amount is modest i.e $1000 per year. Is there anyway to do so? Any brokerage platform provides such service?

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To set up an investment account for a child to purchase ETFs, you can consider opening a custodial account. This type of account allows a parent or guardian to manage investments on behalf of a minor. Many brokerage platforms offer custodial accounts that allow you to invest in ETFs. You can research different brokerage platforms to find one that suits your needs and offers investment options for minors. With a modest amount like $1000 per year, you may find brokerage platforms that accommodate such investment levels. Before you invest in ETF, remember to make the necessary considerations!

Consider FSMOne ETF RSP beneficiary account

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