I apologize if this is the wrong place for this. Mods-remove if needed.
My wife and I just had our first. A little girl. She’s pretty cool. We think we’re gonna keep her /s
Anyways the wife is home on baby leave and devouring Gilmore Girls for the fifth time. From time to time, I’m in the living room with her watching it. It is…a good show tbh. Great dialogue. I digress.
In on episode, Lorelai’s father Richard gifts her the financial gains from an investment he made for her when she was an infant. $75,000. A great windfall for sure. But it got me thinking-how could I do something similar for my daughter? What would be the best vehicle to accomplish this.
I obviously don’t expect the same returns as Richard gained on the investment for Lorelai. I, after all, am not a Yale alumnus (lowly state school offspring here) and am not known for making the best picks in the market. I have since distilled my portfolio down into an extremely boring albeit stable mix of stocks and practice DCA.
Anyways, how could I go about doing this for my daughter? Some sort of brokerage account for children? Thanks in advance.