I am working with an organization that helps foster youth transition into adulthood, and they are looking for an online platform for investing and saving that youth will be able to easily understand and use, that will follow them wherever they go and not be tied to a location or a job.
I use Vanguard, but I would not describe it as user friendly. Are options like Fidelity, Robinhood, or others a better option?
In order to make it as simple as possible, we would love to have 3 primary options to advise youth on their money placement. One option as an interest-bearing savings account for planned purchases and emergency funds, a specific mutual fund we advise them to use (an index fund of some sort), and a target retirement date account for IRA savings.
We have spoken with advisors before, and honestly, they give too many options. Our youth don't need 100 options and a complex system to figure out, so we are trying to find the most user-friendly platform and provide these 3 primary options to take the confusion out of their first steps in saving and investing.
Any advice would be helpful.
Submitted December 04, 2020 at 04:35PM by eingram https://ift.tt/3otkIbl
