Best Credit Cards for Kids: Building Credit & Money Habits Early

How to Invest for Your Kids and Teach Them  Self-Sufficiency

Teaching kids about money and letting them start investing as a minor should go a long way toward assuaging this concern.

Best Investments for Kids

1. Custodial Accounts

As the account’s custodian or trustee, you have control of it until your child reaches adulthood–typically 18 to 21 years old.

Best Investments for Kids

2. 529 Plans: Save for College and Qualified Education Expenses Tax Free

A 529 plan is a special tax-advantaged investment plan that lets families save for the current and future costs of schooling for a beneficiary.

Best Investments for Kids

3. Traditional and Roth IRAs

These accounts typically start with young adults because they require the account owner to have earned income.

Best Investments for Kids

4. Coverdell Education Savings Account

These accounts also allow you to put money toward qualified education expenses of K-12 grade schooling in addition to college costs.

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