My 9 year old received $6,500 from a car accident settlement. We put it in a CD at Bank of America for a 7 month term at 4.9%. Next week it matures and we plan to do another 7 month term, however, one of the bank employees is trying to get is to transfer it to a Merril account. I still want to take advantage of high interest rates and it seems like they want to stall until rates drop or something. What’s the next best thing we can do to ensure his money grows until he has access to it at age 18?
Can you make a video about how to start investing in index funds?
T bills are better way to earn interests. Don’t pay state tax as a bonus. 😊
My 9 year old received $6,500 from a car accident settlement. We put it in a CD at Bank of America for a 7 month term at 4.9%. Next week it matures and we plan to do another 7 month term, however, one of the bank employees is trying to get is to transfer it to a Merril account. I still want to take advantage of high interest rates and it seems like they want to stall until rates drop or something. What’s the next best thing we can do to ensure his money grows until he has access to it at age 18?