Best investment account on Reddit
182 reviews from r/personalfinance, r/investing, r/FinancialPlanning and 26 more subreddits
182 reviews from
and
By Brand
/By Product
#1
529 Plan
4.6
(56)
"We set up our baby with a 529 and an individual brokerage account."
"We set up a 529 for my son with auto contributions each month that are invested in the s&p500."
"A couple of suggestions: 1. 529 is probably the most efficient."
"529s are actually pretty flexible."
"The 529 is the best choice."
"529 is still the best option I think"
"1) It encourages kids to get a higher education and 2) it's tax advantaged."
"I believe they also expanded what qualifies as educational expenses to include less traditional schooling options (like apprenticeships). I would still consider this as an option."
"Start a 529. It is meant for furthering education, but with recent changes, he can slowly roll it over to a Roth IRA."
"529 plans are great especially since now you can rollover some of the unused money to a Roth IRA eventually."
#2
Vanguard
4.7
(20)
"Schwab, Fidelity, and Vanguard are considered top-tier low-fee brokerages."
"Super easy to set up and has been a great investment for my kids."
"I also like VTSAX mutual fund because it's more broadly invested than VOO."
"VOO is a nice broad ETF."
"Could look at VGT if you believe tech will continue to perform well into the future."
"You could check out VGLT for some hedge/safety."
"VT is recommended as a great ETF investment strategy."
"I use Vanguard kids accounts. Family can just BPay straight into it for birthdays and Christmas."
"Consider a UTMA account with Vanguard for saving."
"Keeping it aggressive with index funds like VTI and VOO is a smart way to go."
#3
Fidelity
4.5
(10)
"Schwab, Fidelity, and Vanguard are considered top-tier low-fee brokerages."
"A custodial account is probably what you're looking for. Fidelity and Schwab are pretty popular choices."
"Fidelity allows for partial/fractional shares of any ETF, making it a flexible investment option."
"Excellent performance and low expense ratio."
"Investing in a total stock market index fund like VTSAX is a smart choice for long-term growth."
"Fidelity is easy to use and isn't as suspect as Robinhood imo."
"My kids have utmas that are invested 60/40 fskax/ftihx."
"I would open a fidelity custodial account."
"For the 15 year old a teen brokerage (Fidelity has this) or UTMA."
"Fidelity has a youth account you can open."
#4
Charles Schwab
4.8
(4)
"A custodial account is probably what you're looking for. Fidelity and Schwab are pretty popular choices."
"Schwab offer international accounts."
"I'm still able to use my Charles Schwab acct."
"I'll suggested Charles Schwab's International account."
#5
Schwab
4.8
(4)
"Schwab, Fidelity, and Vanguard are considered top-tier low-fee brokerages."
"Schwab has no fees for their brokerage account, providing a cost-effective solution for investing."
"Started a Custodial IRA with Schwab, contributing $50/month. The returns average 15% and it's fun doing it together."
"An international Schwab account can provide better rates on treasury bills in USD."
#6
UGMA/UTMA
4.0
(4)
"Custodial accounts under the Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) are accounts created under a state’s law to hold gifts or transfers that a minor has received."
"You can also open an UGMA/UTMA account."
"UTMA/UGMA and then age of 21 convert to joint account."
"You need to look for an UGMA and/or UTMA account."
#7
UTMA
4.0
(4)
"I like UTMA accounts because of the flexibility."
"UTMA accounts transfer to the minor when they turn 18-21."
"I'd say a UTMA account and then a Roth IRA once they have any earned income."
"UTMA that’s what I have for my kids."
#8
ROTH IRA
4.3
(3)
"A ROTH IRA is a great long-term investment option."
"If he has some earned income, he can open a Roth IRA and put up to the contribution limit per year in it."
"Make sure you aren't over the income limit for contributing to a Roth IRA."
#9
UTMA Account
4.0
(3)
"Open a UTMA investment account. Invest the money."
"UTMA accts are great as they’re tax advantaged."
"UTMA accts are great as they’re tax advantaged."
#10
Investment Account
3.7
(3)
"$100 a month at 18 years with a. 8% growth rate (average for asx) you would have $48k when he is 18."
"Beleggingsrekening or kinder spaarrekening are common."
"Honesty anything you do is better than nothing. Even if you open up an investment account and out $1 a day until she’s 18."
#11
Brokerage Account
3.0
(3)
"I just started a brokerage account for my kids a year before they were born."
"But you can do an account to invest for the kid and some brokers or banks do have special offers for such cases."
"Dividends are taxable in a regular brokerage account."
#12
Acorns
4.5
(2)
"Setting up a brokerage account and investing monthly is a great way to save for the future."
"If we're talking about investing, Vanguard and Acorns are both good."
#13
Betterment
4.5
(2)
"Betterment checking accounts are paying 4.75% APY right now, and you don't pay the management fee on those either."
"Betterment checking accounts are paying 4.75% APY right now."
#14
UTMA/UGMA Account
4.0
(2)
"Accounts like UTMA/UGMA impact financial aid differently than a 529."
"I had this issue and ultimately decided on a UTMA/UGMA."
#15
Vanguard Total Stock Market ETF (VTI)
4.0
(2)
"I would just invest it in VTI or VT."
"VTI gives total US stock market."
#16
ADCB
4.0
(2)
"ADCB has a maximum rate of 4.2% for 375 days."
"ADCB fixed deposit."
#17
Trusts
3.5
(2)
"Different types of trusts have different tax impacts now and later."
"Look into trusts. You can certainly have a trust that you contribute to and the kids eventually get at some age."
#18
Wealthsimple
3.0
(2)
"I keep room in my TFSA on Wealthsimple and I put money towards VEQT for my son and XEQT for my daughter every week."
"Wealthsimple does not support informal trust accounts for minors."
#19
Bogleheads
5.0
(1)
"Go on Bogleheads.com, they have an entire section of the forum dedicated to investing outside of the US."
#20
Invest Engine
5.0
(1)
"Invest Engine has no platform fee, so probably good for long term investing."
#21
Edward Jones
5.0
(1)
"Our kids each have an investment account with Edward Jones."
#22
Broad Market Index Fund
4.0
(1)
"It may make sense to put it into a broad market index fund."
#23
Custodial Account
4.0
(1)
"Youre looking for a custodial account."
#24
Capital One
4.0
(1)
"Capital one and chase can open a youth checking account."
#25
EQ Bank
4.0
(1)
"In my EQ Bank account I have a separate account HISA for my son which I contribute monthly."
#26
UTMA/UGMA
4.0
(1)
"Best bet could be splitting funds between 529 and UTMA/UGMA."
#27
Passive Investing Australia
4.0
(1)
"Try this https://passiveinvestingaustralia.com/investing-for-children/."
#28
Easyequities
4.0
(1)
"Easyequities."
#29
JPMorgan
4.0
(1)
"Some banks also have brokerages that connect to them so that's an option as well (e.g. chase bank with JPMorgan self directed)"
#30
ESA
4.0
(1)
"How about an ESA in indexed funds? Or just a taxable indexed fund. Much better than no growth."
#31
Stocks
4.0
(1)
"I only put money on it that he receives from birthdays and holidays. And invest that in stocks and an index tracker."
#32
Super Account
4.0
(1)
"Just put extra money into your super account, if you are say 33 when having a kid they will be 27ish when they get the money."
#33
401(k)
4.0
(1)
"I would start by talking with your own employer’s HR and if you have a 401K, see if that company offers such a plan."
#34
Trading 212
4.0
(1)
"I'm currently moving my portfolio from Hargreaves Lansdown to trading212 because of HLs higher fees."
#36
Superhero
4.0
(1)
"You can begin with "microinvesting" using Betashares Direct or Superhero."
#37
Questrade
4.0
(1)
"You would need to setup with account with another online brokerage like Questrade."
#38
Indmoney
4.0
(1)
"I am using indmoney. They restarted the minimal cost transfer again."
#39
Lynx
4.0
(1)
"I decided to open the account on Lynx which is a pass through towards interactive brokers."
#40
Exchange-Traded Fund
4.0
(1)
"I would be looking for a stable etf but that’s just me."
#41
S&P 500 Index
4.0
(1)
"It is good to invest in high equity ETFs such as the S&P 500."
#42
Uniform Transfers to Minors Act
4.0
(1)
"It's what I chose over a 529 since I wanted my child to have options."
#43
JEPI
4.0
(1)
"I wish I’d known sooner about ETF funds and their monthly dividends."
#44
QQQ
4.0
(1)
"Something like JEPI or QQQ that goes up with the market but also pays out monthly."
#45
Coverdell ESA
4.0
(1)
"Surprised to see no one has mentioned a Coverdell ESA as an option."
#46
CDs
4.0
(1)
"Some CDs are giving 5% for 6m to 1 year lock-in."
#47
Investment Bond
4.0
(1)
"Why not consider an investment bond?"
#48
Low-Cost Index Fund
4.0
(1)
"Gift them shares of a low-cost index fund instead of cash."
#49
Degiro
4.0
(1)
"I open one degiro account per kid."
#50
529 Account
4.0
(1)
"I used to work for a financial company and a lot of people set up 529’s for their grandkids."
#51
Wahed Investment
4.0
(1)
"Invest in Shari'ah-friendly stocks and shares with Wahed Investment."
#52
Robinhood
4.0
(1)
"Robinhood gives 5%apr. You'll make $1,000 per year on 20k."
#53
Coverdell Education Savings Account
4.0
(1)
"Open a Coverdall ESA. Self-directed, $2000 annual contribution limit."
#54
ETFs
4.0
(1)
"I like buying VTI, SCHD and VIG every week."
#55
Hargreaves Lansdown
4.0
(1)
"Considered just investing in an Index fund on an adult account?"
#56
Total Stock Market Index Funds
4.0
(1)
"I invest in tax efficient total stock market index funds in this account."
#57
ii.co.uk
4.0
(1)
"I'd avoid HL as their fees are quite high."
#58
Minor Stock Account
4.0
(1)
"I decided against the 529 and just opened a minor stock account."
#59
Broad Market ETFs
4.0
(1)
"Invest in broad market ETFs like VOO or VTI."
#60
Custodial Brokerage Account
4.0
(1)
"Open a custodial brokerage account."
#61
S&P 500 (FXAIX)
4.0
(1)
"S&P 500 (FXAIX) funds are solid for what you’re looking."
#62
Invesco QQQ
4.0
(1)
"QQQ not really all that risky, but huge growth potential."
#63
Satrix
4.0
(1)
"You can go directly to the satrix website."
#64
Sygnia
4.0
(1)
"Check out Sygnia."
#65
Vanguard Total World Stock ETF
4.0
(1)
"Consider the Vanguard Total World Stock ETF (VT)."
#66
Brokerage Accounts
4.0
(1)
"I have separate individual brokerage accounts for each child."
#68
Acrons Early Account
3.0
(1)
"What about Acrons Early account? I did that for my kids."
#69
Custodial Roth IRA
3.0
(1)
"If you truly want him to start investing then don't open a bank account."
#70
Standard Brokerage Account
3.0
(1)
"Then a standard brokerage account is literally your only option."
#71
Custodial IRA
3.0
(1)
"You want your kids to be able to use the money at 18, not at 65+."
#72
AVGE
3.0
(1)
"AVGE seems a hand off approach but still new!"
Discover your audience
GummySearch is an audience research toolkit for 130,000 unique communities on Reddit.
If you are looking for startup problems to solve, want to validate your idea or find your first customers online, GummySearch is for you.
Sign up for free, get community insights in minutes.
Tell me more
Get started
