You can go on fidelity.com and open online : ) . Their dad is much older than I and he's the one who made me do all of this and guided me on setup etc as he did it for his 2 other older kids as well. I'll go online find out ( because I can't remember exact option ) which account is the one you choose for the minors and tell you the name. They also have great customer service . My 401k and my stocks are done through fidelity. Their bank accounts are with Bank of America . They only thing with the minor account there is you have to keep a $250 balance in at all times to avoid a monthly fee : ) . You receive a debit card with your name on it to make deposits or withdrawals and then when they are 18 they can have access .
Also certain stocks for example the kids have DTE and CMS ( Detroit energy and consumers power ) they are dividend reinvestment stocks and you can elect to have your divined payouts each quarter automatically reinvested into the account which adds up to a lot more $$ in time.
ashley·
Мама двоих (младенец)
No. You will be the custodian on the account. Both of my kids has bank and stock investment savings accounts : )
Jasmine·
Мама сына-младенца
stock investments???? that's cool @mom2thehs I don't know too much about stock tho
ashley·
Мама двоих (младенец)
You can go on fidelity.com and open online : ) . Their dad is much older than I and he's the one who made me do all of this and guided me on setup etc as he did it for his 2 other older kids as well. I'll go online find out ( because I can't remember exact option ) which account is the one you choose for the minors and tell you the name. They also have great customer service . My 401k and my stocks are done through fidelity. Their bank accounts are with Bank of America . They only thing with the minor account there is you have to keep a $250 balance in at all times to avoid a monthly fee : ) . You receive a debit card with your name on it to make deposits or withdrawals and then when they are 18 they can have access .
ashley·
Мама двоих (младенец)
Also certain stocks for example the kids have DTE and CMS ( Detroit energy and consumers power ) they are dividend reinvestment stocks and you can elect to have your divined payouts each quarter automatically reinvested into the account which adds up to a lot more $$ in time.
ashley·
Мама двоих (младенец)
And that's awesome that you want to get him set up : )
Jasmine·
Мама сына-младенца
@mom2thehs, ooo that sounds interesting!!! and thanks I want to make sure my little guy will b ok