Recommendations for investing

[Taureau]

I am a grandfather and rather then buy some toy I want to make several times a year some investment of some sort for my grandson
I am looking for something around $200

What do you suggest and why?

 

[matt55]

a high interest savings acount, depending how old your grandson is,you can keep dumping money in it over time,by time hes 18 theres a pile of cash there,only saying this cause i do it for my kids too

 

[Trenbolone&Cheese]

a high interest savings acount, depending how old your grandson is,you can keep dumping money in it over time,by time hes 18 theres a pile of cash there,only saying this cause i do it for my kids too

this or RESP. having my school paid for was a huge head start on everyone else.

 

[matt55]

this or RESP. having my school paid for was a huge head start on everyone else.

ya i figure once it builds up enough,ill know were to put it next,and yes,if you came out of this with free education,with no student loan payments,your well ahead of the game,this is something to look into for sure,good advice man

 

[onelife]

I am a grandfather and rather then buy some toy I want to make several times a year some investment of some sort for my grandson
I am looking for something around $200

What do you suggest and why?

ETF something like the S&P 500 etc. Set it up so it automatically adds money every month and walk away. Have something in place so when he turns 18 or 20 the account is available for him. Or you could split it across several sectors, a little into each every month to cover market drama.

 

[matt55]

ETF something like the S&P 500 etc. Set it up so it automatically adds money every month and walk away. Have something in place so when he turns 18 or 20 the account is available for him.

thats amazing

 

[onelife]

thats amazing

Yeah etfs are nice for long ass investing.

 

[DmanTRT2025]

Informal trust or an RESP, (invested in a mutual fund that mimics the S&P500) that way the whole family can contribute to it, the parents and/or the other set of grandparents. The beauty of setting this up with multiple people is that a monthly minimum that’s affordable to each contributor equals a lot by the time Uni comes around.

 

[DmanTRT2025]

I chose an Informal Trust for my kids when each was born and it worked out well for them. When grandkids come around I will do the same for them.

 

[onelife]

I chose an Informal Trust for my kids when each was born and it worked out well for them. When grandkids come around I will do the same for them.

Thats amazing!

 

[DmanTRT2025]

A family member who has at least double
My income didn’t start anything and had the “we’ll just pay for the tuition then” snobby attitude, is now crying the blues all the time about 3 kids in Uni.

 

[Taureau]

What about gold or silver

 

[DmanTRT2025]

I don’t follow it much, buy it once in awhile. It’s currently on a bit of a downslope so probably a bargain compared to 10-20 years from now.

 

[Sorbate]

I am a grandfather and rather then buy some toy I want to make several times a year some investment of some sort for my grandson
I am looking for something around $200

What do you suggest and why?

Government Bond. Guaranteed and since it’s only $200 it’s really not much to invest.
It’s more of a neat present. My grandparents bought me and my brother one. It doesn’t make a lot, but it was kinda cool having the bond paper.

Plus our government needs all the money it can get for the new budget.

 

[Oldguyjiujitsu]

The greatest gift you can give is a gift of education and the ability to come out of school with minimal debt. I’d put it into an RESP.