Investment Account reviews from Reddit
Summary
We analyzed 198 Reddit reviews across 34 subreddits and 72 posts to rank the best Investment Account brands recommended by redditors, including communities like r/personalfinance, r/investing, r/FinancialPlanning, r/Bogleheads, r/daddit. Top-rated brands include 529 Plan (4.6/5), Vanguard (4.5/5), Fidelity (4.3/5).
Stats
Reviews198
Subreddits34
Posts72
Brands85
Products30
198 reviews from
and
By Brand
/By Product
#1
529 Plan
4.6
(54)
"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
4.5
(15)
"Schwab, Fidelity, and Vanguard are considered top-tier low-fee brokerages."
"VOO is a nice broad ETF."
"I also like VTSAX mutual fund because it's more broadly invested than VOO."
"I use Vanguard kids accounts. Family can just BPay straight into it for birthdays and Christmas."
"Teaching about compound interest and saving 25% will set them up for success."
"Keeping it aggressive with index funds like VTI and VOO is a smart way to go."
"Investing in VTSAX is a solid choice for long-term growth."
"VTI is a great option for diversifying investments for my kids."
"If your research shows you want Vanguard mutual funds, then i would pick vanguard as your brokerage firm."
"I use Vanguard."
#3
Fidelity
4.3
(12)
"OP make sure you choose the “(Fidelity Index)” for any portfolio you choose to keep the expense ratio down."
"Consider opening an account with Fidelity for your Roth IRA and use Fidelity Zero funds, with 0% expense ratio."
"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."
"If your research shows you want Fidelity mutual funds, then I would pick Fidelity."
"I have both Fidelity and Schwab accounts, I like Schwab better but Fidelity has better funds."
"I have both Fidelity and Schwab accounts, I like Schwab better but Fidelity has better funds."
"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."
#4
Vanguard VOO
4.8
(5)
"VOO or VTI (the same other than VTI includes international companies)."
"Any broad fund like VOO, VTI, or VT. You can also pick an all in one fund like AOA."
"I do VOO for my nieces"
"A simple suggestion to invest in is an S&P index fund like VOO (169.53% or 14.66% annualized growth rate since July 2017 to Sep 2024, including dividends, based on S&P Total Returns)."
"Otherwise only voo and etfs w decent dividends. Don’t over think it , you can’t go wrong w Voo"
#5
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."
#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
Zerodha
4.0
(3)
"Zerodha"
"Zerodha is best. No spam calls, no promotional messages."
"Zerodha is good. Except sometimes it hangs for few mins once or twice a year when volumes are drastically high."
#10
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."
#11
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."
#12
Vanguard VT and EDV
5.0
(2)
"VT is the entire world stock market. It is the most broadly diversified across equities as you can get."
"Probably something like 90% VT / 10% EDV or just 100% VT."
#13
Vanguard VTI
5.0
(2)
"VTI/Bitcoin 50/50, respectively."
"Another consideration would be to swap VTI for VT for simplicity and diversifications sake."
#14
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."
#15
Interactive Brokers
4.5
(2)
"IBKR. End of story."
"Interactive Brokers"
#16
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."
#17
VOO
4.5
(2)
"Go with a 529. It can be used for a broad range of educational expenses."
"I did a UTMA and invest in VOO."
#18
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."
#19
Vanguard Total Stock Market ETF (VTI)
4.0
(2)
"I would just invest it in VTI or VT."
"VTI gives total US stock market."
#20
ADCB
4.0
(2)
"ADCB has a maximum rate of 4.2% for 375 days."
"ADCB fixed deposit."
#21
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."
#22
Angel One
3.5
(2)
"Angel one"
"I had a angle one account and as far as I remember they call you."
#23
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."
#24
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."
#25
Bogleheads
5.0
(1)
"Go on Bogleheads.com, they have an entire section of the forum dedicated to investing outside of the US."
#26
Schwab
5.0
(1)
"Schwab, Fidelity, and Vanguard are considered top-tier low-fee brokerages."
#27
Invest Engine
5.0
(1)
"Invest Engine has no platform fee, so probably good for long term investing."
#28
Edward Jones
5.0
(1)
"Our kids each have an investment account with Edward Jones."
#29
Marcus by Goldman Sachs
4.0
(1)
"Marcus and Sofi are good choices since both of them are FDIC insured."
#30
SoFi
4.0
(1)
"Marcus and Sofi are good choices since both of them are FDIC insured."
#31
Trust Fund
4.0
(1)
"What you're looking for is a 'trust fund'."
#32
Fidelity Investments
4.0
(1)
"There are a few alternative account types for your child."
#33
UGMA/UTMA Accounts
4.0
(1)
"Contact the brokerage firm that you conduct business with and ask about UGMA and/or UTMA account."
#34
Taxable Accounts
4.0
(1)
"I have a couple of taxable accounts that are allocated differently based on my goals & risk level."
#35
Bonds
4.0
(1)
"What are the bonds for? Does she already have a 529?"
#36
Savings for Kids
4.0
(1)
"Saving for kids: https://reddit.com/r/personalfinance/comments/104tjyn/_/j36u2dm/?context=1"
#37
Children's Savings Account
4.0
(1)
"You can open an account in your child’s name."
#38
Lockheed Martin
4.0
(1)
"Just get him stocks in Lockheed Martin etc."
#39
Flatex
4.0
(1)
"ETF at something like flatex with A2PKXG as ETF."
#40
ETF
4.0
(1)
"I would say an ETF is better in the long term."
#41
Canadian Tax Sheltered Accounts
4.0
(1)
"You should consider investing within Canadian tax sheltered accounts."
#42
Joint Investment Account
4.0
(1)
"Open a joint account for you and your wife and just note that it is your daughter's money."
#43
Mutual Fund
4.0
(1)
"A mutual fund (usually minimum 3k to start) that tracks the S&P 500."
#44
Broad Market Index Fund
4.0
(1)
"It may make sense to put it into a broad market index fund."
#45
Custodial Account
4.0
(1)
"Youre looking for a custodial account."
#46
Capital One
4.0
(1)
"Capital one and chase can open a youth checking account."
#47
EQ Bank
4.0
(1)
"In my EQ Bank account I have a separate account HISA for my son which I contribute monthly."
#48
UTMA/UGMA
4.0
(1)
"Best bet could be splitting funds between 529 and UTMA/UGMA."
#49
Passive Investing Australia
4.0
(1)
"Try this https://passiveinvestingaustralia.com/investing-for-children/."
#50
Easyequities
4.0
(1)
"Easyequities."
#51
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)"
#52
ESA
4.0
(1)
"How about an ESA in indexed funds? Or just a taxable indexed fund. Much better than no growth."
#53
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."
#54
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."
#55
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."
#56
Trading 212
4.0
(1)
"I'm currently moving my portfolio from Hargreaves Lansdown to trading212 because of HLs higher fees."
#58
Superhero
4.0
(1)
"You can begin with "microinvesting" using Betashares Direct or Superhero."
#59
Questrade
4.0
(1)
"You would need to setup with account with another online brokerage like Questrade."
#60
Indmoney
4.0
(1)
"I am using indmoney. They restarted the minimal cost transfer again."
#61
Lynx
4.0
(1)
"I decided to open the account on Lynx which is a pass through towards interactive brokers."
#62
Exchange-Traded Fund
4.0
(1)
"I would be looking for a stable etf but that’s just me."
#63
S&P 500 Index
4.0
(1)
"It is good to invest in high equity ETFs such as the S&P 500."
#64
Uniform Transfers to Minors Act
4.0
(1)
"It's what I chose over a 529 since I wanted my child to have options."
#65
JEPI
4.0
(1)
"I wish I’d known sooner about ETF funds and their monthly dividends."
#66
QQQ
4.0
(1)
"Something like JEPI or QQQ that goes up with the market but also pays out monthly."
#67
Coverdell ESA
4.0
(1)
"Surprised to see no one has mentioned a Coverdell ESA as an option."
#68
CDs
4.0
(1)
"Some CDs are giving 5% for 6m to 1 year lock-in."
#69
Investment Bond
4.0
(1)
"Why not consider an investment bond?"
#70
Low-Cost Index Fund
4.0
(1)
"Gift them shares of a low-cost index fund instead of cash."
#71
Degiro
4.0
(1)
"I open one degiro account per kid."
#72
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."
#73
Wahed Investment
4.0
(1)
"Invest in Shari'ah-friendly stocks and shares with Wahed Investment."
#74
Robinhood
4.0
(1)
"Robinhood gives 5%apr. You'll make $1,000 per year on 20k."
#75
Coverdell Education Savings Account
4.0
(1)
"Open a Coverdall ESA. Self-directed, $2000 annual contribution limit."
#76
ETFs
4.0
(1)
"I like buying VTI, SCHD and VIG every week."
#77
Hargreaves Lansdown
4.0
(1)
"Considered just investing in an Index fund on an adult account?"
#78
Total Stock Market Index Funds
4.0
(1)
"I invest in tax efficient total stock market index funds in this account."
#79
ii.co.uk
4.0
(1)
"I'd avoid HL as their fees are quite high."
#80
Minor Stock Account
4.0
(1)
"I decided against the 529 and just opened a minor stock account."
#82
Acrons Early Account
3.0
(1)
"What about Acrons Early account? I did that for my kids."
#83
Custodial Roth IRA
3.0
(1)
"If you truly want him to start investing then don't open a bank account."
#84
Standard Brokerage Account
3.0
(1)
"Then a standard brokerage account is literally your only option."
#85
Swedbank
2.0
(1)
"However fees are insane and results probably won't be as good comparing to other investment products."
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