Home > Great granddaughter has a mutual fund!

Great granddaughter has a mutual fund!

March 11th, 2016 at 03:34 pm

I opened a mutual fund this week for my great grandaughter. This will be one of her birthday presents when she turns 3 the end of June. I chose vanguard star fund. Their minimum is $1000 to open a fund.
In the "good old days", you could open a mutual fund in many companies for any amount. I started my mutual fund savings with just $50 in the American Century fund, Heritage. I still have the fund.
I can remember going home every night and putting away 10% of my tips into a little wooden box to add to that fund every month. Tips were always low here, so usually my 10% was only $2. But, I faithfully sent the money that I saved, into that mutual fund every month.
I opened mutual funds for both of my granddaughters when they were born. Now they each have over $10,000 to help with a down payment when they buy a house.

I hope little Ava will enjoy her mutul fund money when she gets older and remember her old great grandma julie.

6 Responses to “Great granddaughter has a mutual fund!”

  1. snafu Says:

    I think this is a brilliant plan. My dad did this for all new babies in our extended family and encouraged all the more senior folks to contribute to these funds for any and all gifting occasions. He felt it was fine to give a toy and some apparel but long term the children would benefit far more from an education fund. Parents kept the account current with small, automatic, monthly contributions. I was totally shocked at how much these small sums cumulatively compounded over 20 years to fund DSs post secondary education.

    Your granddaughters will benefit hugely from your generosity and thoughtfulness.

  2. househopeful Says:

    I am sure she will appreciate every bit of it! That is a wonderful gift!

  3. Michelle Says:

    So thoughtful of you, Ima. I'm sure it will be most appreciated when she begins to look at houses.

  4. Thrifty Ray Says:

    Such a thoughtful, generous gift to your granddaughters! I am sure they will be thanking you for your kindness!!

  5. LivingAlmostLarge Says:

    That is so wonderful and generous. I know she'll love it!

  6. FrugalTexan75 Says:

    What a lovely thing to do.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
Will not be published.

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]