So Christmas is here and I was wondering what to do with the kids gifts (money). I have 4 kids ranging in age between 2-11. I would like to teach them to save & invest at an early age to prepare them for their future and was looking for some opinions on options. I was thinking 4 investment accounts with Schwab with regular contributions for them. Should I invest in the same stocks for each or different holdings per account. I thought an investment account was a good idea so that they can use them for their own individual needs later on in life. Whether it be college, homes, weddings, etc. I would like some provisions so that they just couldn't go out and blow the money once they turn 18.
Any suggestions, what have some of you set up for your children? Any good books I can give to my kids to read on investing and saving?
__________________
Jose
|