Author Topic: What to do with daughters savings account?  (Read 1229 times)

TheInsuranceMan

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What to do with daughters savings account?
« on: June 01, 2015, 08:40:42 AM »
Hey MMM Crew

Our daughter just turned 1, and we have about $1k in her savings account at the moment.  Both sets of grandparents are contributing towards college funds for her, one in a 529, one through an Edward Jones account (that I don't have the details on).  So, DW and I have been moving money into her savings when we are able, and any monetary gifts for her are going there as well.  Since she won't need her own money for, oh, several years, I think there might be better things to do with her 1k than leave it in a savings account earning %.00001. 

So, thoughts on what we should do with it?  Something we can continue to contribute to and when she needs money (car, college, etc.), we'll have access to it without penalty, thoughts?

Tjat

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Re: What to do with daughters savings account?
« Reply #1 on: June 01, 2015, 08:43:10 AM »
With a 15 year target horizon, a vanguard target date fund could be the easiest. VTHRX is a 2030 fund with $1000 minimum investment

TheInsuranceMan

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Re: What to do with daughters savings account?
« Reply #2 on: June 01, 2015, 12:30:37 PM »
With a 15 year target horizon, a vanguard target date fund could be the easiest. VTHRX is a 2030 fund with $1000 minimum investment

Thank you!  I'll check that out.