· "Give the Gift of Financial Independence: A Holiday Guide to UGMAsThis holiday season, consider starting a UGMA (Uniform Gifts to Minors Act) account for a child, niece, nephew, or grandchild. These custodial accounts allow you to invest in their future with as little as $10 to start!
Make it a meaningful tradition to add to the account each holiday season. For younger kids, let them watch the magic of compound growth. For teens, get them involved by exploring investment options together. Share a list of diversified ETFs that include familiar companies, helping them learn valuable financial skills early.
By investing regularly, your UGMA account can harness the power of long-term growth, setting up a foundation for their financial independence.
Want to learn more? Check out this guide from Investopedia.
For resources tailored to building financial independence for children, teens, and beyond, explore our books on Amazon or via our website:
If you or your teen would like to learn more about investing or want more information on how to open accounts, see our books specifically oriented toward future financial independence for children and teens.
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