Maine Nesties
jd72878
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
anyone dabble in the stock market?
I'd love to buy Abby stock in Disney (or something) with her birthday/holiday money. etrades? other ways?
Our Abby Jean
Re: anyone dabble in the stock market?
You may qualify for the matching gift if you start a NextGen account. Initial $50 gets up to $500 matching.
http://www.famemaine.com/files/Pages/NextGen/Maine_Resident_Benefits.aspx
Although won't work for you for Abby...but for the next go around remember anyone with a kiddo born in Maine and is under a year can sign up for the Alfond grant...free $500.
529s aren't as advisable since, if I'm remembering the right number, it can only be used for education (so she'd be SOL if she winds up not doing college or other form of education).
In terms of the market, I've had a broker since before I knew what they were. I haven't given him money in a while to put in, but I just give him money and he doesn't what he thinks is best. I'm an uninvolved investor.
I don't know if Disney does any stock holder perks (Carnival Cruiselines do), but it might be fun just to give her something to follow when she gets old enough to know what it is. I wouldn't invest a ton in one stock (although Microsoft was good to me when I had it), but it would be fun for Abbey to have something to follow as she grows up.
It depends on why you want to buy the stock. If it is more fun or to give her something to follow through on when she's older and you want a recognizable name, then you could get a small bit of stock in Disney or a company like that as Susie suggested.
But if you want to use it for savings when she's older, then you should be diversifying risk and going for mutual funds. Preferably something you can manage online yourself to lower the fees. If you send me a message, I'm happy to send you names of mutual fund companies I do and do not like. I can't post it here because it would violate my agency's public affairs policy.
Edit: If you do go the mutual fund route, typically the lower entry-cost funds have higher fees. You may want to put gift money into a CD and keep accumulating until you have a couple thousand to avoid the higher fees.
True, but with the free $$ the state of Maine offers...from $200-$500, you might as well take advantage, set up the account and get the free $$. You could then set up a different account with any future $$.
We do a lot of stocks, mutual funds etc. IL's have a IRA set up for DD already. She "earns" income lol by doing chores.
We don't plan on adding to the 529 , Alfond, b/c what if DD gets a full scholarship, becomes a fabulous actress, etc. Plus, from what I've noticed since DD has been born her $500 has already gone down to $429! That should be interesting to watch as the years go on.
Are you wanting to save for her future or just have some fun?
Thanks girls! I'd like to do something for fun and of course, the long term. This is one of those topics I wish I knew more about and just never paid attentions to! :-) Keep the info coming! If you have any recs for financial advisors we'd be open to them.
Jgreg - I send you a message on FB.
Thanks!
JP
Thanks girls! I'd like to do something for fun and of course, the long term. This is one of those topics I wish I knew more about and just never paid attentions to! :-) Keep the info coming! If you have any recs for financial advisors we'd be open to them.
Jgreg - I send you a message on FB.
Thanks!
JP