My 12-year old and I were talking about the wisdom of index funds (vs choosing individual stocks, or keeping money in a bank account) and how he wants to buy into one. The problem (?) is that he currently has about $1000 to put in, so he can't make a $5k or $10K initial investment. My first couple of internet searches did not provide useful information... and the search tool at the top of this site keeps throwing me to an error page.
What does the hive mind suggest as a good low-cost fund for a kid? I thought I remembered that some funds had lower-entry-cost child accounts, but I can't find much on that. He'll be looking at keeping it for a while, but who knows -- maybe he'll want a car in 5 years! It's his money, after all (and separate from an already existing 529).
Thanks!
