Can i invest my childrens money?

!my twins have been receiving gifts from their grandmother since the day they were born . i dont want the money to just sit in the bank can i invest it!

Ask your broker about a UGMA (or UTGMA) account. The rules vary a bit by state but it stands for something like Uniform Gift [or transfers] to Minors Act - you can set up an account and name yourself as the Guardian, which stays that way until they reach a certain age. The age is usually 18 or 21 depending on the state.

Also, look at a 529 account. I believe you can set it up so that you are the guardian as well.

As always, consult your brokerage firm or investment professional. Good luck.

you can invest, saving account, CD's. I would talk with your bank and they can help you with options they provide and then talk with some stock investors..and choose the best one for you and your needs.

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