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What to do with the kids cash from Christmas and birthdays?
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What to do with the kids cash from Christmas and birthdays?


Jan 23, 2021, 5:03 PM

Want to put this cash to work instead of it sitting in their tiger banks. All together it’s close to a $1000. Want something less risky than stocks. (We already have a brokerage account for their college) But also something semi liquid. Looked at a 5yr cd but dang the rates are crap. 1000 bucks at 5 years only yields $50 return. Now I’m not expecting a huge return but that seemed low. Any ideas for a safe investment of $1000 for 5 years? I was thinking gold bullion maybe a bar or some coins? Thoughts/advice is appreciated

Ps we are pretty diversified with our buckets. Two 401ks, a personal IRA, a taxable brokerage account, and a traditional savings account. Just trying to come up with another “bucket” that the kids can watch grow. And I can teach about saving and investing as they age. (All 3 are under 6yrs old)

Message was edited by: RunJumpCatch®

2024 purple level member flag link military_tech thumb_downthumb_up


Started a custodian acct for my kid at a brokerage.


Jan 23, 2021, 5:12 PM

It’s $1000 and they’re young....why worry about risk? Teach them about investing. (Assuming your college acct is a 529 and not an existing traditional act).

Did this with my son 5 years ago....let him research and pick all stocks. $500 then is now $4000 with some nice breaks on Tesla and Netflix, and he’s got a much better appreciation for saving and investing.

2024 orange level memberbadge-donor-20yr.jpgringofhonor-obed.jpg flag link military_tech thumb_downthumb_up


Re: Started a custodian acct for my kid at a brokerage.


Jan 23, 2021, 5:52 PM

We got lucky with Netflix too. Got in @155.

2024 purple level member flag link military_tech thumb_downthumb_up


Re: Started a custodian acct for my kid at a brokerage.


Jan 23, 2021, 6:00 PM [ in reply to Started a custodian acct for my kid at a brokerage. ]

We didn’t go 529. We wanted something more liquid with less restrictions. Wife and in-laws are big on military so there’s a chance the kids go that route. With the 529 the restrictions for the tax breaks only apply toward “educational” expenses. With the standard brokerage account we can cash out the kids money for a house or whatever they want if they don’t end up in college or end up getting tuition paid for with a gi bill. And since the securities will be long term investments we will have smaller long term capital gains to pay.

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Re: What to do with the kids cash from Christmas and birthdays?


Jan 23, 2021, 5:31 PM

https://grow.acorns.com/easy-ways-to-teach-kids-about-the-stock-market/


2024 orange level memberbadge-donor-15yr.jpgringofhonor-cu85tiger.jpg flag link military_tech thumb_downthumb_up

“Anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that my ignorance is just as good as your knowledge.”
Isaac Asimov


I’d recommend hookers and cocaine.***


Jan 23, 2021, 6:02 PM



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How you think he wound up with kids?***


Jan 23, 2021, 6:05 PM



2024 orange level memberbadge-donor-15yr.jpgringofhonor-cu85tiger.jpg flag link military_tech thumb_downthumb_up

“Anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that my ignorance is just as good as your knowledge.”
Isaac Asimov


1/2 S&P mutual fund or ETF 1/2 Corp Bond mutual fund or ETF***


Jan 23, 2021, 6:04 PM



2024 orange level memberbadge-donor-10yr.jpg flag link military_tech thumb_downthumb_up


or Better yet a 529


Jan 23, 2021, 6:11 PM

that's your money and you get it WHEN YOU GO TO COLLEGE and we will match penny for penny for you.

They aren't going to understand investing until it's their own hard earned money they are investing, but maybe when they are in high school you can at least show them the statement every so often.

2024 orange level memberbadge-donor-10yr.jpg flag link military_tech thumb_downthumb_up


Have you considered scratchers?


Jan 23, 2021, 6:05 PM

just a thought

2024 orange level memberbadge-donor-10yr.jpg flag link military_tech thumb_downthumb_up


not a udp post***


Jan 23, 2021, 7:01 PM



2024 purple level memberbadge-donor-20yr.jpg flag link military_tech thumb_downthumb_up


"something in these hills..." -joe sherman


Just put that as a down payment


Jan 23, 2021, 7:09 PM

for a 97 Silverado and put the rest into refinishing the the kitchen cabinets.

Really tho, make sure it’s a 4wd. No man has a truck without 4wd.

2024 orange level memberbadge-donor-05yr.jpg flag link military_tech thumb_downthumb_up


Local Publix has BOGO on mini chocolate covered Oreos.***


Jan 23, 2021, 7:21 PM



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Lifestyle fund is a good option***


Jan 23, 2021, 8:01 PM



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