What is recommended for starting kids saving money while investing in the stock market? Since the market gives better returns what platforms are best?
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Avoid individual stocks. Consider a low cost growth ETF and ensure dividends are set to automatically be re-invested. The money will snowball bigger over time.
Also be aware there are often government programs that can help with saving for a child's post secondary education. In Canada there are two such programs:
1) The Canada Education Savings Grant (CESG) where the federal government will grant funds based upon a percentage (to a lifetime limit of $7200) of what an eligible family puts aside for their child's post-secondary education. (Details: https://www.canada.ca/en/servi...gs-grant/amount.html)
2) The Canada Learning Bond (CLB) where the federal government will provide an initial $500 plus $100 per year up to and including the year the child turns 15 (to a lifetime limit of $2000) for eligible families of modest income that invest the funds towards their child's post-secondary education. (Details: https://www.canada.ca/en/emplo...s/learning-bond.html)
If you live in the U.S. or another country, do a Google search to see if there might be any similar programs.