Posted on 02/22/2008 9:15:01 AM PST by the_devils_advocate_666
On February 10th The Devils Advocate Jr. came into the world as a healthy 9lb baby boy, the first child of his proud parents. He has been fortunate enough to have received a few hundred dollars in gifts from his friends and relatives.
Now I'm wondering what is the best option for investing his little nest egg to provide the best return in about 18 years. Certainly there's something out there better than a savings account.
What we’ve done so far are savings accounts. We opened one for her right away with Navy Federal, since I’ve banked with them since I was 2!
But we also opened and ING account and transfer $25/month plus money whenever my husband gets bonuses. It pays 3.4% interest.
We really should do one of those college savings accounts (my parents have started one for her), but we haven’t yet.
Congratulations! Tax-free mutual fund—like one that invests in municipal funds.
Over the long term stocks will beat everything else, most of the time.
A Total Stock Market Index fund, with low fees such as one from Vanguard, would be good. I think the minimum intitial investment, however, is 1 or 2 grand.
Get the latest edition “A Random Walk Down Wall Street” by Burton Malkiel.
Ammo...
First, I would buy him a lifetime membership into the NRA.
Second, if possible, place cash into a ROTH IRA or 529 plan.
Advise?... Change your screen name and your perspective on reality, accept Jesus Christ as your personal savior/Redeemer, then teach this child in the ways of God’s people, to have faith that God is and is a rewarder of those who seek Him, being sure to relate the stories of the prophets and Biblical heroes as they exercised faith in God in thier lievs. [And put 3/4 of the money in a mutual fund tied to the stockmarket trends, and 1/4 in government bonds. You should take a look at which is doing the best, every four or five years.]
Darn you.
A bible for the_devils_advocate_666.
Congratulations!
“Certainly there’s something out there better than a savings account.”
I’d suggest a Beretta, but that’s probably not what you have in mind.
Every year or so I’d pick a couple stocks in commodities like copper, gold, whatever, or something like railroads and build a very wide portfolio. Then I’d just let it sit there and not worry about it for 20 years.
When I was a baby 69 years ago, my Uncle gave me one share of Standard Oil (I forget whether it was of New Jersy, or of Indiana). With stock splits and changes of ownership I now have 84 shares of BP/Amoco. I think the initial stock was about $25. Recently BP was trading around $70.
So perhaps the best investment is just a few shares each of several carefully selected long term stocks with a likely strong future for many years
Great pic. Take good care of him [and his brothers and sisters] for the first 18 years and he will be able to take care of the rest. Regards, {:-)
Gerber and diapers?
Start those retirement accounts.
The best investment is love.
I bought each of my grandsons an NRA life membership.
Vanguard Precious Metals and Mining, or their Energy Fund.
My dad bought my daughter a $5,000 zero coupon bond that matured when she was 18 and was cashed out at close to 19K. They don’t pay this kind of interest now.
Carbon, they’re going to quit making it.
Congratulations!!! Woohoo! A baby in the family! Blessings!
Put the money in gold or silver. Probably silver.
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