So I'm looking to open a college fund/investment account for my nephew who just turned 1. My brother is terrible with his finances and lives paycheck to paycheck as does most of my family. I think my brother probably makes less than 30k, and so do my parents. I need to keep this secret, because I pretend to also make very little, and live way below my means. My yearly income is around 120k, but my family believes I make around 40k.
I'm looking for a long term investment probably for when he turns 18-23. Really just depends on what happens after he turns 18. If he goes to college, probably will be a college fund. If he does not go to college, probably will wait until he turns 23-24.
Looking to initially put 10k into the account, and monthly contributions of 250 until he is 18-24ish. I do know his SSN.
Submitted August 10, 2022 at 10:19PM by Thefinansek https://ift.tt/UOJDrkf
