so last night my wife and i had our quarterly date (sad i know, we are working on it) and during the meal we talked about the actions to close out an old bank account and move all the money into her ROTH at vanguard. that brought up another question. what to do with the custodial account we have for our 2 yr old? last we remember its a little over a grand (easy to save when all the money ppl would be buying toys give you in cash and you throw it in savings).
so we mulled over different options
- open a custodial account in at our high interest bank (~0.95% bet you can guess where)
- open a custodial brokerage account (less favorable by my wife)
that’s when the most amazing thing ever happened!!!
my wife asked, “why don’t you ask your financial ppl?”
THAT’S YOU ROCKSTARS!!!
what do you think? 1, 2, or 1 AND 2? or do you know something i don’t know and would love to share?
Update: we have a 529 but don’t want this money to be locked into it