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September 19, 2022

Get kids set to invest with these accounts

  • Custodial accounts are a way to invest for minors and give them a headstart on building wealth.

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    How can you ensure they’re financially responsible when they reach the age of majority? One way is to share your money values and teach budgeting and saving basics early on.

    During my late teens, my mom handed me two worn, blue passport-size books with details of my custodial investment accounts. I had no clue what to do with them, but it didn't matter, because the accounts were empty anyway. Perhaps for the best, because I'm almost certain my assets wouldn't have stood a chance.

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