Jen Glantz shares her strategy for building her baby’s net worth to six figures by age 18. Instead of setting up a baby registry, she asked for cash gifts, which she put into a high-yield savings account with a 4.25% APY. She highlights the benefits of compounding interest and plans to periodically transfer funds into higher-yield CDs, especially when CD rates are significantly higher than savings account rates. Additionally, she will occasionally invest in a taxable brokerage account, purchasing stocks, bonds, mutual funds, and ETFs, despite the higher risk, to potentially achieve better long-term returns.
I’ve Devised a Plan to Grow my Newborn’s Savings Account to a Six-Figure Sum by the Time She Reaches 18
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