Like many parents, I wanted to set aside money for my child, and also like many parents I had questions about where to do so. Since much of my investment money comes in the way of irregular income (side hustles, projects, part-time jobs, and extra work assignments). I decided to start an automatic transfer each Monday to an Acorns account that will eventually be turned over to my daughter. I have the benefit of working with many different financial people and with the uncertainty that surrounds college in the future I picked Acorns UGMA/UTMA account as opposed to the more traditional 529 Plan, which could still be used for college, but is going to just be money available for anything whether or not my child ultimately attends college. This isn’t high level finance and we only deposit a very small amount which adds up (& more importantly compounds) quickly! My child enjoys checking the projections for what the value of this account will be at the current investment levels at various ages.
https://share.acorns.com/jonbutchko5 is the link to get started. In addition, Acorns offers some great programs for adults.
Jon Butchko 