Make Your Kid A Trust Fund Baby, No Matter How Rich You Are
Trustegg is a new service that lets you start a trust fund for your kid, online and with little hassle.
As The New York Times reports today [March 26], Americans 40 and under don’t have nearly has much wealth as our parents did when they were our age, and we probably don’t stand a chance of accumulating as much either.
It’s unfortunate that the website TrustEgg wasn’t around when we were kids. Maybe it would’ve helped level the playing field for more families.
The site promises to be an easy, hassle-free way for parents to open and begin contributing to a trust fund for their kids, for free, starting with as little as one dollar.
Would you use TrustEgg?
This looks to be an innovative way to save money in manageable increments for your child’s future and/or college education. TrustEgg recommends that you invest $100 a month from the moment your child is born, with an estimated return of $32,000 by the time he/she turns 186 (estimated with 6% compound interest). You can even encourage your relatives to donate to the online fund.
Would you save money through a service of this nature in order to set up a trust fund for your child? If not, what would you recommend?
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