So, my son (18) is graduating highschool in a few weeks and has landed himself a great job starting the week after he's done with school. He will be making $23/hr (in our area, that's pretty stupidly great money, especially for an 18 yr old kid). He is coming to live with me for a while so he can save some money and get himself on a good path in life while he decides what he wants to do (school, military, career, etc).
I will be charging him rent but aside from putting a little extra into the household expenses, I'm planning to put most of it back for him as a "you did good, here's a gift to get you going" thing when he moves out as I'm doing reasonably well myself and don't really need the extra.
Now, having said all that, I'm wanting to know what I can have HIM invest in while he's working to set himself up as well as he can. I'm already helping him separately save up an emergency fund ($1500) and money for some other expenses we know he will have, but aside from that, I want him to put some money into some long term stuff that will set him up as well as is possible while he's got this opportunity.
So are there some good general funds, mutual funds, I know target date funds tend to under-perform so we're staying away from those, but like, what can I have him sink a few hundred dollars a month into without it going to waste?
Thanks in advance.