{ "media_type": "text", "post_content": "For the parents: I’ve been giving my kids a $3/ week allowance since the day we found out we were having each of them. It’s in a HYSA but they literally have 57-60 years worth of stock market gains. I plan to use a small part of that money to teach them financial literacy and the rest invested in the market. Besides a 529, what investment vehicles do you use for your kids? Open to non- tax advantaged accounts. Assume 401k, Roth and HSA is maxed out every year (fwiw).", "post_id": "5f4a5549bfe4d800243def0a", "reply_count": 8, "vote_count": 4, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter", "feed_type": "bowl" }
null

For the parents: I’ve been giving my kids a $3/ week allowance since the day we found out we were having each of them. It’s in a HYSA but they literally have 57-60 years worth of stock market gains. I plan to use a small part of that money to teach them financial literacy and the rest invested in the market. Besides a 529, what investment vehicles do you use for your kids? Open to non- tax advantaged accounts. Assume 401k, Roth and HSA is maxed out every year (fwiw).

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Maybe not applicable yet, but once they are old enough to have a job (like at a restaurant, coffee shop, camp counselor, etc.) you can open a Roth IRA in their name and match whatever they earn into that account (up to $6000/year max).

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I've seen some articles that it doesn't necessarily have to be w2 wages, you can even do babysitting/lawn mowing/etc revenue as long as you document it somehow. I haven't done it yet but might in the next couple years.

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There’s a startup called current (I think that’s the right one) that allows parents to give kids debit cards or something to be highly involved but let them explore money. Idk. But look into it!

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UTMA accounts will allow you to save money for your children and use that money to pay for their expenses until they’re 22. Expenses could be college or a car, the definition is pretty liberal.

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Yes, sounds the same. The gains are taxed at the child’s effective rate up to $X and equities can be added also.

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