Post by Cherhorowitz on Feb 25, 2017 13:23:46 GMT -5
Re: the investment account
MH likes to say that "maybe one day he will buy a girl a ring with that money" because he sold a few of his stocks to buy my ring. Also, when we were first starting out, no one wanted to give us an apt in NY and we were able to use the account to pay for an apartment up front. MH also did dumb stuff like selling some blue chip stocks right away rather than sitting on them because he saw what they were worth. But, for the most part, it taught him about the market and he was able to take the account and grow it quite a bit. We're in no position to give our kid a trust fund or anything, but hopefully it's a little something he can use when he needs it and teach him about investing. Or he will blow it all immediately.
My SIL's H's parents did the investment account for him, too. It taught him so much about money and saving and investing. He had a very nice sized chunk of money in that account coming out of college. And they did a lot of matching funds to encourage him to save.
Post by fancynewbeesly on Feb 25, 2017 13:44:39 GMT -5
Reese is 5 and has no concept of money. Infact DH's uncle for Christmas gave her cash; and she piped up: "what do I need money for? I don't buy anything"
Which is true. Usually she has enough gift cards to cover any wants.
Last year any cash we put in a saving account--probably less than 100, we used it for her in Disney.
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