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Savings Account for Baby (lemmy.ml)

submitted 2 weeks 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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[–] FuckyWucky@hexbear.net 2 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

VOO ETF for S&P, very cheap in terms of expense ratio. JNK ETF for a bit of junk bonds. XCCC for junkest of junk. I am not American so I can't say much about taxes.

[–] huquad@lemmy.ml 2 points 2 weeks ago

Agreed on the tickers! I use something very similar for my personal investments. I was more asking about the best mechanisms.