An investment that requires less than $100 to purchase, but will yield much more after 18 years? Preferably a low risk investment.
MOSE
Comments
I think some life insurance that they can covert when the child is 21 would be nice
When children are born into our extended family, I buy them coin proof sets for the year they were born. A set bought directly from the US Mint should be about $25.00.
US Savings Bonds make a great gift. You purchase them for half of their face value and have no risk. When the baby grows up, she/he will have a bond worth double what you paid for it!
a basic cd deposit or high interest yeild acount that does not require a large up front deposit or just open a saving account and make regular deposits over time and when they turn 18 all the interest and depsoit will have added up quite well-same with cd if you renew it and kep turning over the interst into the account with regular deposits added to it you shoudl do fine.
A savings account.My parents got me one when I was just a baby and I now know how to manage my money and I know how to save my money - which is a valuable and rare skill it seems like nowadays.
Purchase a one hundred dollar savings bond that will cost you fifty dollars. It is very low risk.
look into a 509 plan……each state offers them. They are investments that save for higher education.
I would go with a 529 college savings account. You can add to it as you go along for the next 18 years. Even if you can only spare $50 now, as you get older and make more money (hopefully!), you can add larger increments. It’s not taxable for you, and the child can withdraw it tax-free to attend any college, as long as they spend the money on tuition, books, room and board, and related college expenses. The plans are state-sponsored, but you can open a plan in any state–NY, UT, and IA have the lowest management fees. (That doesn’t mean the kid has to go to school in that state, either.)
If you don’t plan on making such a big investment in the kid’s financial future, a savings bond is easy and cheap.
