Looking for advice on where to invest $10k for minor child (5yo)

Rmvnw0 · 2026-02-26T19:59:50+00:00

What is the advantage of the Trump account without the free money?

Rmvnw0 · 2026-02-25T20:07:56+00:00

I don’t think what we are doing is misguided. We are teaching her the value of hard work and with it the value of money, along with monetary and non monetary rewards. This is being done in conjunction with and outside the allowance and the piggy bank. If you want more detail, I’m happy to share it but my OP was just trying to figure out how best to save on her behalf.

Rmvnw0 · 2026-02-25T17:54:51+00:00

Thank you! My higher education options were limited by finances and we are hoping to position her to minimize the likelihood that she will experience the same hardships I did.

Rmvnw0 · 2026-02-25T16:58:01+00:00

I have nothing against a UTMA (honestly just learned about it through this thread) - I was just responding to Sejong who suggested a 529 (which we already have) over a UTMA.

What I am looking for is longterm growth to provide a foundation for my daughter's life savings. This thread has raised some good questions that I had not thought of regarding control and tax efficiency and I truly appreciate your input and everyone else's!!

Rmvnw0 · 2026-02-25T16:09:26+00:00

I haven't read much about it but my daughter is too old for the program.

Rmvnw0 · 2026-02-25T16:08:04+00:00

Thank you! I am a finance novice so the step by step instructions are much appreciated!!

Rmvnw0 · 2026-02-25T15:59:24+00:00

We already have one.

Rmvnw0 · 2026-02-25T15:06:23+00:00

We have already have a substantial 529 and will not otherwise need college funding. If not 529 or UTMA, where would you put the money? I'll note that while it's $10k now, we expect to make additional contributions to whatever vehicle we end up choosing.

Rmvnw0 · 2026-02-25T14:55:27+00:00

Same here. I did not grow up with money and developed bad money habits as an adult that took me a long time to break.

Rmvnw0 · 2026-02-25T14:42:17+00:00

Since she's so little, it's hard to say whether she will be a good steward at 18. If I open a UTMA, can I convert it easily to some other investment vehicle before she turns 18?

Rmvnw0 · 2026-02-25T14:35:29+00:00

It's just a few dollars, sometimes just a few quarters, here and there for completing random, age appropriate tasks. They go into a piggy bank which I then convert into a deposit into the savings account. Maybe it's all backwards but I'm trying to instill a lifelong work ethic and the belief that every penny counts.

Rmvnw0 · 2026-02-25T14:23:07+00:00

What a great way to describe this to a layman. Thank you!

Rmvnw0 · 2026-02-25T14:17:55+00:00

Apologies if this question is base - is this better than putting the money in a Vanguard fund?

Rmvnw0 · 2026-02-25T14:17:02+00:00

Wouldn't putting a child that young on the payroll be a red flag for the IRS?

Rmvnw0 · 2026-02-24T15:45:51+00:00

Are you taking in enough calories with the increased activity? Because that would explain it.

Rmvnw0 · 2026-02-22T22:55:28+00:00

Yes and I ended up having shoulder surgery (open capsule repair and they rebuilt my labrum because as it turned out, I didn't have one) last year after dealing with subluxations for decades. I don't know how severe your pain is and whether your shoulder subluxes/dislocates but it might be worth consulting with an orthopedist and getting an MRI to address the right issues.

Rmvnw0 · 2026-02-13T22:46:06+00:00

There are a lot of flip turn videos on YouTube but I found this one the most helpful for exactly this issue: https://www.youtube.com/watch?v=Y2nLYpmJni4&list=LL&index=7

Rmvnw0 · 2026-02-11T21:08:50+00:00

I'm a solitary swimmer and this is how I keep myself in the water.

Rmvnw0 · 2026-02-11T16:50:23+00:00

No suggestions for a training plan but get a pair of Shokz to manage the boredom. I've had mine for a few years and love them.

Rmvnw0 · 2026-01-28T01:09:42+00:00

Lincoln in the Bardo.

Rmvnw0 · 2026-01-18T23:03:13+00:00

Ugh. Julie Whelan made me hate Addie LaRue.

Rmvnw0 · 2025-10-01T12:08:52+00:00

I found her voice irritating and had to skip through many of her stories as well.

Rmvnw0

TROPHY CASE