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If I want to involve several family members into one investment account? |
What kind of account would be best? I want to watch out for tax consequences... The best advice I can give you is to clearly spell everything out in a contract. If you want to form an actual business entity, you should probably consider a limited partnership if one person will be making the decisions about everyones' money, or a general partnership if it will be a group vote kind of thing. Gadzooks, do you like these people? Want to keep on speaking terms with them? If you want to kindle problems between humans, it is either sex or money that will be at the core. I, personally, would just have everybody take personal responsibility for their own financial future. If some don't have enough capital to get involved in certain investments, there other options for them. |
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Yes. ETFs are very tax efficient, and provide a low cost way to build a diversified portfolio. Because ETFs are traded like stocks, there is a commission every time you buy or sell. For this r... Get some dividend reinvestment plans going. You can give anyone up to $11,500 a year (I think that's the current amount, but check). Put the money into stocks where the dividends are reinves... $200 is not enough to byuy shares with. Buy a CD(certificate of Deposit) with it. When you have tiny amounts of money, commissions and acct charges will decimate your little nest egg. ...You should be able to move it, but the new account might not be willing to accept shares in the fund. If they don't, you'd have to sell the shares in Putnam Growth and transfer the cash ... I am a long time Schwab (and TD) Customer and I am not an employee of any brokerage firm. Transfer out assets means you do an institution to institution transfer of your assets (stock, bonds, Ca... There are two ways to do this you get to pick: First way is easy, simply write a check out to yourself and in the account line use the "owner's investment" account. This will sub... You need at least 100k to buy commercial paper. All you need is a brokerage acct. ...go to the bank with two different forms of ID ... and ask! if you need anything else, they will tell you. :) ... |
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