submitted 5 days ago by huquad@lemmy.ml to c/personalfinance@lemmy.ml

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My parents want to give my new baby some money for a savings account. However, if its just going to sit there for 20 years, I'd prefer for it to gain interest/dividends. Is there any easy way to setup a fund that tracks s&p500 and preferably tax advantaged? Or am I better off just investing in the relevant mutual fund.

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[-] huquad@lemmy.ml 4 points 5 days ago

After more digging, I think the 529 is the way to go.

[-] GooseGang@beehaw.org 1 points 5 days ago

Also it depends on the state. Utah’s 529 looks neat and you can use it out of state.

this post was submitted on 06 Dec 2025

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