Investing Gurus Needed!!

[ducks-and-bucks]

Long story short, I just had a niece not even a year ago now... She still a few months old, its gonna be years until money is any kind of issue to her so instead of buying baby toys or wasting money on bs like that I decided to each gift I give to my niece (birthday, xmas etc) I really aint gonna give her anything, I'm just gonna put $50 or $100 into a 529 plan or ESA every year. until she goes to college. Thats gonna be my gift.

What 529 plans do yall reccommend that have done well for you, or ESA's. I know vanguard is one of the best placed to invest money because all fees are super low to nothing, but vanguard does have a $2000, startup min deposit which isnt really an option for me right now....

Lemme know what yall know... and where to go to get it set up!

[RTC]

Smart Move

[BigTex.308]

Smart Move

VERY smart move. Good for you!



Ike

[ducks-and-bucks]

Ttt

[treestand]

You can start with a simple savings account and convert to a 529 when you have the minimum saved up. The few pennies the savings account will earn won't require your niece to file any taxes if it is in her name.

[Fish Slime]

Open her a account with ameritrade. Buy good solid blue chip stocks that pay dividends. Did it for my kids when they were small.

We were able to pay college out of our pocket and not touch their accounts, but if needed it was there. Now they have a large chunk of money to start out with no restrictions if they choose to touch it.

[dharris]

I would by her silver and put it away. All the tax free things will be gone soon with all the money the government is going to need. Silver can be sold later and untraceable.

[30-30]

My dad is an investment advisor. Growing up, all of my income (including toys I sold and the occasional $5 from grandma) had to be split 45% spending, 10% charity, and 45% "investment." I hated it at the time! I saw it as Dad taking my money. But now I'm sure glad he did it. This continued until I graduated high school. Dad bought and sold stock with the account and managed it as he managed his client's accounts. The account grew significantly, and we made a deal that he would write me a check after I graduate college. You might consider doing something like this!

[Throwin Darts]

I would by her silver and put it away. All the tax free things will be gone soon with all the money the government is going to need. Silver can be sold later and untraceable.

This is not good advice in regards to taxes. Capital gains on silver is taxed as a collectible and rates are very high. Short term gains are taxed at personal income tax rates and long term gains are at 28%. No one knows what the future holds for tax advantaged accounts but what we do know is that right now silver capital gains are taxed out the wazzoo.

[pdevoto]

You truly are a good uncle.

[dharris]

If you sell silver to an individual there is no record hence no taxes. I have also sold it to pawn shops with no record. There are no serial numbers so no way to track it. Gold on the other hand, most bars have serial numbers on it. Just my personal experience.

[klepdo]

If you sell silver to an individual there is no record hence no taxes. I have also sold it to pawn shops with no record. There are no serial numbers so no way to track it. Gold on the other hand, most bars have serial numbers on it. Just my personal experience.

Did you know the IRS has access to all your accounts. They can make you document any deposit into any account. The only way to hide it is to have in a safe.