Investing On Behalf Of My Kids.
Today I will start investing on behalf of my kids. Don't misunderstand, the dollar amounts involved at this time are far from trust fund numbers. I'm just a middle class dad. The money to do this has been accrued over the last six months as I stalked the right companies and ETFs for this endeavour. After today I'll set a little aside each month and buy more as the opportunities present themselves.
I'm a long-term investor by nature. I plan to hold onto the positions I buy today for a long time. Ultimatley I plan to give the contents of this portfolio to my kids when my oldest turns 40 in 2047. Hopefully after taxes, fees and inflation each kid will have around $50,000 in today's money to do with as needed. I'd love to see a percentage of the proceeds used by them to set up something like this for any future grandkids. It would make for a nice tradition that would not break the bank.
Anyway, I've written before about doing something like this. I just wanted to broadcast that I finally put words into action.
All the best,