How to Find Online Financial Information for My Kids

Financial security is not only important for people planning their retirement. It matters to those planning for their children's future as well. Follow these steps to find the best ways to invest for them.

Difficulty: Easy

Instructions

Steps for Finding Financial Information for Your Kids

1. Determine what type of financial information you want. Are you looking for financial tools to save for your child's college education? Add educational savings accounts, stocks, bonds and money market accounts to your financial information search list. Look for scholarships, grants and student loans as well.

2. Write down the questions you have about investing for your child. This list may include questions like: "Are there tax-free investment options," "How aggressive does my investing need to be to save enough money to pay for college in X years," and "What are the best long-term investing options"?

3. Look in your local phone book for financial planners.

4. Call a couple of the financial planners you found to see if they can help. You may even want to make an appointment to talk to them in person. Ask about the best investment options to match your needs. Bring your list of questions.

5. Utilize the career counseling services offered by your child's high school. Talk with your child's counselor to learn about scholarships, student loans, grants and work study programs. Ask what you need to do to qualify for and apply for them.

6. Research online for financial information. If you are interested in buying stocks for your child, go to a site like http://finance.yahoo.com to research companies and stock performance. Find links to online brokers there as well. If you're interested in finding information on educational savings accounts go to http://www.SavingForCollege.com. Conduct a keyword search for other investment options like bonds, money market accounts and certificates of deposit.

7. Read through the information you find online. Find the option that best suits your needs.

Tips & Warnings

• Talk to financial professionals to discover all that you could do.
• Utilize the vast amount of investment information available online.
• Compare and contrast the pros and cons of several investing options before making a decision.
• Utilize school resources for financial programs developed for kids.
• All investments involve risk.
• Make sure you know when you should invest your child's money in the stock market, and when it's better to just put it in a high yield savings account.

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on 6/23/2008 AN ACCOUNT WAS SET UP IN MY NAME WHILST I WAS A CHILD. MY PARENTS ARE BOTH DECEASED, AND HAVE NOT LEFT THE ACCOUNT DETAILS. HOW CAN I LOCATE THE ACCOUNT