Results 18,376 to 18,400 of 18617
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07-18-2024, 06:10 PM #18376I drink it up
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- Oct 2002
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- my own little world
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- 6,120
Recommendations re: a place for kids (under 18 and after 18) to start tossing money into investments? I want to keep supporting my kids and bills and etc and I don’t need them to pay me back, but in lieu of that I would like them to contribute some equivalent amounts into the market. Where to have a kid deposit $250/month and learn about how this stuff works?
focus.
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07-18-2024, 06:20 PM #18377
Is the stock market going to tank?
Schwab/TD if you want them to learn
Robinhood and a link to r/wallstreetbets if you want them to learn the hard way
https://www.schwab.com/custodial-account
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07-18-2024, 06:23 PM #18378
BTC
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07-18-2024, 06:30 PM #18379
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07-19-2024, 08:26 AM #18380
For the learning side, I'd have them buy a few shares of a few stocks. It's a good way to learn about being a shareholder, voting, proxies, etc. When I was a kid I even went to the annual shareholder's meeting at my hometown Coors since I had a few shares. Stick the rest in VTI or some other similar low cost index fund.
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07-19-2024, 08:54 AM #18381
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07-19-2024, 09:40 AM #18382
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07-19-2024, 02:23 PM #18383
In addition to what everyone else has said, make it so the kids are depositing money into a Roth IRA or 529 plan so that it is tax advantaged.
My understanding is that there is an earned income requirement for the Roth IRA, so you may need to put a kid on some kind of payroll or said kid needs to have an income from somewhere else to qualify.
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07-19-2024, 02:43 PM #18384
Good on you musty. They've got all the time in the world. If they get that discipline of putting a bit away each month they'll be golden.
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07-19-2024, 03:09 PM #18385
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07-19-2024, 03:53 PM #18386
I couldn't figure out why a minor would want a 529, so did some research on kids tax brackets. Had no idea... so a kid could have $100k of VOO and pay no tax on the 1.3% dividend payment each year.
"
Unearned income from interest, dividends, and capital gains are taxed in tiers defined by the IRS.
For a child with no earned income, the amount of unearned income up to $1,300 is not taxed in 2024.
The next $1,300 is taxed at the child's rate.
Any amount above $2,600 is taxed at the parents' rate.
These rules cover children under the age of 18, and also those up to the age of 24 who are full-time students.
"
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07-19-2024, 06:46 PM #18387
There are some stipulations with the money in the 529 account though - you don’t really want to over contribute because non qualified withdrawals get hit with a penalty tax of 10+%.
That said there are some new options I haven’t looked into since I opened them for my kids, like I hear you can contribute any leftover money to a Roth in the kids name now.
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07-19-2024, 07:41 PM #18388
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07-19-2024, 07:46 PM #18389
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07-20-2024, 09:02 AM #18390
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07-20-2024, 11:34 AM #18391
^^^that would be nice, my kids grandparents seem to just spend on themselves.
I guess I had written off 529 because I didn't like all the rules and was focused on investing so I can retiring in my 40's. But seeing 2024 rule that can be rolled into a ira if kid doesn't go to university, has me reconsidering. Glad the post got me to do research.
Youngest should be out of daycare soon, so that will free up some money.
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07-22-2024, 11:44 AM #18392
Any opinions on Pershing vs. Schwab as account custodian?
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07-24-2024, 01:13 PM #18393
REKT
So we a lock for rate cut by Sept. now?
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07-24-2024, 01:23 PM #18394
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07-24-2024, 01:31 PM #18395
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07-24-2024, 01:34 PM #18396
10y rate ticking higher on 2% sell off. Look out below.
2% daily selloff in bigger picture is nothing.
TSLA will have an island top if it gaps lower tomorrow.
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07-24-2024, 01:36 PM #18397
NVDA has a gap 10% lower.
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08-02-2024, 09:13 AM #18398
bloody
Originally Posted by blurred
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08-02-2024, 09:59 AM #18399Rod9301
- Join Date
- Jan 2009
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- Squaw valley
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- 4,851
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08-02-2024, 10:13 AM #18400
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