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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[-] ragebutt@lemmy.dbzer0.com 3 points 5 days ago

529 or UGMA/UTMA generally depending on goals then stuff like a normal brokerage in the kids name (but this isn’t tax advantaged) if you want to go further

this post was submitted on 06 Dec 2025

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