Dear Mustachian's,
My beloved first born is approaching his first birthday and I would love to open a Vanguard account for him that we can contribute to annually and hopefully grow into something he can use down the track. I absolutely DO NOT want to laden down his world with a bunch of crap and would rather put my/his money towards something more constructive.
The big glaring problem, however, is that I don't know what this would look like. Can you provide any advice, guidance or insight into what type of "portfolio" might be good for a minor that I can contribute to annually? My financial literacy is very poor, and although I am actively working on improving that, I do not have much confidence in my ability to proficiently navigate this field. We live in Australia and there is an Australian Vanguard, but am unsure of how different those options are compared to the American?
Many thanks in advance and warmest regards,
mwoodid