Some Kind Of Investment For A Baby Gift?
I want to get my new niece some kind of savings account. I will opened it with $500 and add to it on birthdays and Christmas. What’s the best available product in the US. I’m sure all you mommies have investigated this and any advice would be great. I don’t want it under the parents names just in case they are tempted to dip into it.
Thanks
a cd makes more than a savings account but most cds you can not add to unless you have a $1000 to start with.. you dont have to put her name on it but they will have a spot for a benificiary payable upon death in case anything should happen. that way you know that she would get it. i would definetly not put her parents name on it if you have even one concern that they would dip into it..
Go into local banks and ask them for a childs account. Then they will tell you your options, have a search around for the best one.
Look into CDs’ through your bank.