I want to invest money in securities for my fresh born. Should I want to invest in Divident Re Investment Plan? I want to primarily park some money every month so that it can benefit my son when he goes to college, etc. I could do that below my own name and SSN or set myself up as a Custodian for my son below Uniform Transfer to Minors Act. I am hoping tax will be remunerated on the gains by my son at a time when he will own little income (when is in 18). Is that right? Is here anything like I can gain any tax benefit for money invested contained by DRIP now? Any other persectives are kindness.
Answers: You could establish an investment account for you children, as custodian. Custodian accounts are open in the moniker of the child with the parent mortal the custodian using the child's social security number. This rationalization, for the child, gives the levy liability to the child
A DRIP plan is not necessarily the best way to shift, since DRIP investments are very restrictive. You would be better sour open a custodian narrative with a mutual fund company.
You might be better served if you start on an educational IRA program for you child
Mutual Fund companies as okay as ETFs have an entire array of products abundant will fit your needs. You can step to the MSN.Money website
http://moneycentral.msn.com/home.asp it has an entire part on mutual funds and Exchange Traded Funds. Read about the varied products and in doing so you will be getting investment planning and at the same time educating yourself in the region of investing.
You could also contact the funds companies for more information. I have found that Vanguard & Fidelity can unite your needs for mutual funds. The service and information they provide is adjectives free and you will find it helpful.
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Answers: You could establish an investment account for you children, as custodian. Custodian accounts are open in the moniker of the child with the parent mortal the custodian using the child's social security number. This rationalization, for the child, gives the levy liability to the child
A DRIP plan is not necessarily the best way to shift, since DRIP investments are very restrictive. You would be better sour open a custodian narrative with a mutual fund company.
You might be better served if you start on an educational IRA program for you child
Mutual Fund companies as okay as ETFs have an entire array of products abundant will fit your needs. You can step to the MSN.Money website
http://moneycentral.msn.com/home.asp it has an entire part on mutual funds and Exchange Traded Funds. Read about the varied products and in doing so you will be getting investment planning and at the same time educating yourself in the region of investing.
You could also contact the funds companies for more information. I have found that Vanguard & Fidelity can unite your needs for mutual funds. The service and information they provide is adjectives free and you will find it helpful.
Resolved Questions: