I'm setting up a custodial account (UTMA/UGMA) for my 12 year old daughter to teach and encourage saving and investing. Looking for recommendations on where to house it.
I told her that if she saved $50, I would contribute $200 to get her started (which she has done), and after that, I would match her dollar for dollar. So we're not talking big dollars, at least not yet.
I could be wrong, but I believe if we opened a custodial account at Vanguard, we'd have to meet minimum thresholds, e.g., $3,000 for VTSAX, or single share prices for ETFs and individual stocks. Stockpile (
www.stockpile.com) looks like a new platform; it allows for fractional shares and 0.99 trades. Anybody tried it? Or have other recommendations?
TIA
