Heyyyyy Wealthy Besties HAPPY FRIDAY and welcome back to #FashionFriday and this week I have the CUTEST guest and I am low-key in love with that little face!!! And that cute little guest is my Godson/ baby cousin Mesh!!! Mesh is my cousin Tasha’s baby boy. If you been following me on the gram you’ll know I’ve been playing mommy for the last 2 weeks and if you know ANYTHING about me you already know I couldn’t let Mesh go back to Florida without doing a Mommy & Me look!!
BUTTTTTT this is not just a mommy and me look. Mesh actually turned 3 years old this month and my birthday gift to him is a Custodial Account and APPLE SHARES!!!
What is a Custodial Account? A custodial account which is sometimes called a UTMA/UGMA account is a brokerage account for investing in stocks, bonds, mutual funds, and more for kids.
So figured I’ll use our mommy and me cute look to share how to invest for your kids in the stock market and share exactly what I did to start Mesh’s custodial account.
- Ok, the first thing I did was literally Google “How to Invest for your kids in the stock market” I watched tons of Youtube videos, compare brokerage accounts after brokerage accounts.
- From my research, I decided to add his Custodial Account to my Fidelity account because I am in the process of moving my longterm investments there this month.
- I created the custodial account with all of his information such as full name, DOB, and social security number. My goal with the account is to manage it until he turns 18. But when he turns 18 if he wants to go to college he can take out the investment to pay for college but if he chooses to not go to college then when he turns 25 I will give him full control of the account.
- The next thing I did was created a short watchlist for him based on his favorite things. I added 3 things to his watching list. Mesh LOVES Mickey Mouse so I added Disney to the list, I also added Apple because of his obsession with watching Youtube Kids videos on the iPad and Kellogg’s because his absolute favorite thing to eat for breakfast is CEREAL.
- Then I came up with a budget for him. His initial investment budget is $1000 which I bought 2 shares of Apple which will equal to 8 shares after the Apple Stock Split August 24th. I also set a goal to buy him 1-2 shares every single month.
- And of course family and friends are welcome to contribute to his account as well. Which is actually better than buying him a bunch of things he doesn’t need.
And that’s pretty much what I did to start investing for my 3 year Godson/Cousin in the stock market. And OF COURSE I will do the same exact thing for my own kids one day. My babies will be investors from birth. In fact one of the baby shower gift options will be money for stocks, lol.
Ok, now let’s talk about our CUTEEEEE matching outfit! As soon as I know I was going to have Mesh I searched the entire internet for some cute tees and I came across these Family Over Everything tees from Tony by Toni and I was in LOVE!!! So I decided to create these black everything looks and shoot with our favorite photographer uncle Kirklan of @XlShoots!!!
Side note: shooting with a toddler is hard AF. First, I make sure he took his nap, wasn’t hungry, and I didn’t give him anything with sugar before the session because I did not want him to be OVERLY hyped. And we only did one look together so the session was short and sweet.
Thank youuu sooooo much for stopping and please check out my weekly penny stocks watchlist HERE and of course, if you are new to trading with Penny Stocks and don’t know where to start I have a step by step e-guide of how to get started with penny stocks, grab it, HERE.
And oh, keep up with me on the gram, HERE.