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For my kids I've opened UTMA accounts. Predominantly they are invested in FZROX since we have fidelity accounts. I also let them pick a few individual stocks so they can see the difference in performance. They don't own all the same, one has CROX, the other AMZN and the other F.
I use it as a teaching tool and after dinner we talk about who "won" the market that day. I'm transparent with how much they have if they ask. When they're 18, they'll take over the account. There's already a few thousand in each account and I put about $20 monthly. If they decide to blow all the money on something dumb or keep investing will be a teachable moment. I'm trying to give them a headstart in investing versus it's something I had to learn on my own.
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