I just had a child, and family members have been sending more money than expected. I really hate to let this money sit in a saving account earning basically nothing. What are the best things to do with money for a kid? My wife wants to keep it in savings, but I don't like the thought of that. I was thinking along the lines of doing two or three different things for a little diversification. Mutual funds, govt bonds, leave it in the savings account?? Whats the smart play here? We'll be contributing to it at least twice a year, and then whenever family sends money.
Thanks!!
EDIT: This is in the US. This isn't really specifically for college. I would rather the kid be able to use it for whatever they want. I had something similar growing up, and I used a good chunk of it for my first car.
Submitted January 01, 2019 at 01:25PM by peanutbuttergoodness http://bit.ly/2CILXtn
