I would like to set up some sort of investment accounts for my niece, 3 nephews, and my god daughter, without their parents initially knowing, and gift it to them at an undecided date over a decade away, if not 2 decades (such as a wedding or graduation from college).
My plan is to deposit my contribution into these accounts with each paycheck, if possible.
What are my best options here?
Do some require custodial approvals?
Can I set these accounts up with automatic deposits?
I am looking at ~$300-500 for each person, per year, so $1500-2500 total a year. For now anyway.
Submitted June 25, 2021 at 12:03AM by ChattanoogaMocsFan https://ift.tt/3j79lGy
