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You manage the assets until the child reaches the "age of majority" (usually 18 or 21), at which point the money belongs to them entirely.
Contributions grow tax-free, and the principal can often be withdrawn for a first-time home purchase later in life. 🛠️ 2. Select a Brokerage
To buy stock for a minor, you generally cannot open a standard brokerage account in their name. Instead, you must open a .
The child must have earned income (like a summer job or paper route).
Select between a UTMA/UGMA or a Custodial Roth IRA.
You manage the assets until the child reaches the "age of majority" (usually 18 or 21), at which point the money belongs to them entirely.
Contributions grow tax-free, and the principal can often be withdrawn for a first-time home purchase later in life. 🛠️ 2. Select a Brokerage how to buy a share of stock for a child
To buy stock for a minor, you generally cannot open a standard brokerage account in their name. Instead, you must open a . You manage the assets until the child reaches
The child must have earned income (like a summer job or paper route). how to buy a share of stock for a child
Select between a UTMA/UGMA or a Custodial Roth IRA.