I have a 3 year old son. We have put some money into a savings account and mutual funds in his name, so that when he's older he can make a deposit on a house, buy a car, pay College Fees, etc, etc.
Given that the money isn't going to be touched for 15 years does anyone want to suggest alternative investments that might give a better return than mutual funds? Please keep the suggestions sensible, medium risk is OK for some of the money but I don't want to have to tell my son he can't go to College because I blew the money on a business start up or golf course in the Sahara.
2006-10-18 05:56:57 · 5 answers · asked by popeleo5th 5 in Business & Finance ➔ Investing
Pacific rim, especially Japanese, balanced growth mutual funds such as EWJ or the Japan Fund.
Consider FVL, an American mutual fund that consists only of stocks ranked #1 for timeliness by Value Line.
The best possible use for that money as a teenager and a young adult will be for college and graduate school.
2006-10-18 06:07:18 · answer #1 · answered by urbancoyote 7 · 0⤊ 0⤋
Partial 529 plan. Money you conrtibute can be tax deductable. Earnings are tax free. yeah its a mutual fund but you can direct risk according to age of child. Some plans have very reasonable fees...
2006-10-18 06:01:13 · answer #2 · answered by gdf888 3 · 0⤊ 0⤋
You already have the best investment going for your child. just pick mutuals with a 10 year track record of making money and you shoud be just fine.
2006-10-18 06:03:04 · answer #3 · answered by golferwhoworks 7 · 0⤊ 0⤋
check with some local mutual fund advisors........many of those can be set up with small monies.........check out long term funds.......since you re waiting a few years........many of those have very low risks.
2006-10-18 06:01:31 · answer #4 · answered by purefire41 3 · 0⤊ 0⤋
i'm sure you can get savings bonds.. those are good i think..
or those education savings plans..
kinda like RRSP's but for kids
2006-10-18 05:59:32 · answer #5 · answered by steph 6 · 0⤊ 0⤋