9 Financial Gifts for Babies, Kids & Grandkids [No More Toys]
Giving gifts to children is often a challenge. You want to give them something they’ll enjoy, but you also don’t want it to be a waste of money or break after only a few uses.
A baby fund essentially acts as a savings account earmarked for baby-related expenses now or in the future when the child arrives. It allows you to contribute money toward the child’s expenses as part of a savings plan.
1. Baby Funds
If you want this financial gift to go specifically toward schooling now or even to save for college, a 529 plan offers you the most tax advantaged way to do that.
2. 529 Plans – Best Investment for New Baby
Popular with grandparents, these types of bonds differ from other bonds in that you can’t sell savings bonds to other investors in the market. Meaning, you can’t hold them in a brokerage account.
3. Savings Bonds for Babies and Kids
A custodian is an individual who is liable for the financial management of a minor, and they are typically designated by the person setting up the custodial brokerage account.
4. Custodial Brokerage Account
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