I would like to set up something for my son (age 8) that would allow me to begin making a return on his savings instead of it simply sitting in a savings account.
Basic requirements: 1. Allows custodial accounts (duh) 2. Low minimum to start (as of now he's just over $250) 3. Low to no commissions - with making smaller contributions every week-month ($25-100 at the most) I would not want to unnecessarily eat away at it paying commissions.
I would love to use something like m1 and the fractional share model but I noticed they don't allow custodial accounts (yet, perhaps middle of 2019) but if that will be the best option I'm not opposed to waiting.
Also not opposed to going straight etfs with no commission if that's better long term.
Any suggestions and advice would be appreciated.
Submitted January 22, 2019 at 02:01AM by TheDougNichols http://bit.ly/2DsGHul
