1 Magnificent S&P 500 Dividend Stock Down 31% We're Buying for My Daughter's Portfolio
While it's probably representative of how big a financial geek I am, opening a custodial account for my eight-year-old daughter has been a surprisingly fun and fulfilling experience. Whether she decides to use the money for college, traveling, or a new home, or leave it alone and start funding her retirement with her account, she will be better positioned to follow her dreams.
Best yet, besides the financial benefits, this custodial account could be a learning opportunity for her regarding how businesses work or even investing in companies themselves. While the last thing I want to do is ruin the whimsy of childhood, I can still show that many of the things she loves and uses in her daily life can also be invested in -- not just bought.
By buying an array of businesses that she encounters in her day-to-day life or that operate near her hometown, I'm hoping to not only build a financial nest egg for her, but to also open her eyes to the world of investing all around her.
Source Fool.com
