Bit of background: I am 35M and wife is 33F. We are pretty late to the investment party, after clearing all our debts and some responsibilities.
I moved from India a decade ago and wife has been here since 2021. We only started working in professional environment 3-4 years ago. Currently in pre conceiving stage we’ve saved $40k and want to invest this for our future kid. I surely believe we cannot afford more than one kid in this current cost of living.
Can you please guide me how to make this investment so that the kid would be self sufficient once they turn 18. We are happy to invest $300-$500 every month towards the same in addition to $40k.
I looked at Vanguard, investment bonds, bond wrapper etc. it would be really helpful if you can suggest specific strategies, tax benefits etc.
Happy to answer more questions