How Do You Open A Child Investment Account?
A child investment account can be as simple as an investment account opened in a child’s name, or it could be for a specific purpose such as college savings or other education expenses. Some investment accounts for children are called custodial accounts. Child investment accounts can also come in the form of a trust fund. There are different tax implications for the different types of child investment accounts. Decide on your objectives. If you are saving for college or other education expenses, there are certain types of accounts that work best. On the other hand, if you are trying to save on taxes, opening an investment account in your child’s name with investment income up to certain limits will result in lower taxes. Research your options. There are different kinds of investment accounts for children, and each financial institution has its offerings. A good place to start is your financial institution. Also, online discount brokerage firms have investment account options for childr
