It feels like just yesterday I was sprinting after a tireless preschooler with a baby in tow. But in the blink of an eye, I’ve got a teenager on the brink of independence and a fifth-grader who won’t stop eating everything in sight (seriously, where does it go?!).
While I’m no longer worrying about them sleeping through the night, I do spend a lot of time wondering about their future—and if I’m doing enough to set them up for success. If I’m being honest, making a dedicated effort to set aside the money they’ll need hasn’t been at the top of my list. (That’s where managing weekly schedules, work, carpools, dinners, and everything else goes.)
What I needed was a program that’s easy to understand, simple to set up, and a breeze to maintain. So, when I heard about kids’ investment accounts from Fabric by Gerber Life, I was intrigued.
I visited the website and, quite frankly, was stunned at the program’s simplicity. If you’re looking for a way to start saving for your kids’ future, this checks all the boxes. Here are the top six reasons you should consider it for your own family:
1. It is so easy. That’s it. That’s the reason.
I can’t stress enough how simple the set-up process is. It takes 5-15 minutes of your time, and there are three steps: Pick your portfolio, provide some info about you and your child, and open your account by setting up a recurring contribution for as little as $20 a month. And no worries, your funds are SIPC-insured for up to $500,000.
2. While your child is a minor, you can withdraw fees without incurring penalties.
Let’s face it—life happens. With this investment account from Fabric by Gerber Life, you can withdraw funds for anything your child might need: field trip money, braces, extra-curricular activities, and more. Genius!
3. There are no restrictions once you transfer the account to your of-age child.
When your kid hits the right age (18-21, depending on where you live), the account will be directly transferred to them, so not only will they become the account holder, but they’ll also be able to access their funds without any restrictions. From there, they can use it for whatever they need, be it a car, college tuition, or a security deposit on their first home.
4. You can add money at any time.
Sure, that monthly contribution will add up over time, but if you want to throw in more cash here and there, it’s super easy to do. Plus, it’s a great gift idea for relatives, especially if your kids have more toys than they know what to do with.
5. It teaches your child about budgeting and finances.
My teenager doesn’t know much about budgeting because she spends any allowance money the minute she gets it. On the opposite end of the spectrum, my 10-year-old son has squirreled away hundreds of dollars, but he doesn’t realize how much more he could be making by putting it into an investment account.
With a kids’ investment account from Fabric by Gerber Life, I can sit down with them and explain how money can actually work for them and how to prioritize needs over wants.
6. It’s a perfect opportunity to help my kids (and myself) get organized for the new school year.
As my kids return to the classroom, I’ll be bombarded with school supply requests, theater and sports registration fees, lunch account reminders, clothing asks, and so many other things. By setting up accounts for both of my kids, I can track my progress to see how much we’ve spent and what we still have funds for. Plus, the handy automatic transfer option means I’ll be able to plan ahead and consistently save for their future needs.
Honestly, it’s a win for everyone. Fabric by Gerber Life aims to help families have enough money to enjoy all that life offers, and I’m so here for it.
For a limited time only, start investing today and get $25 on Fabric by Gerber Life!
Fabric by Gerber Life is a brand of Western & Southern Financial Group, Inc. Western & Southern Financial Group, Inc. is the parent company of Fort Washington Investment Advisors, Inc.
Investment advisory services tied to the Fabric by Gerber Life platform are provided by Fort Washington Investment Advisors, Inc., an SEC registered investment adviser. Registration as an investment advisor does not imply any level of skill or training. Custody, brokerage, and clearing services are provided by Apex Clearing Corporation, a registered broker-dealer and member FINRA/SIPC. As a member of the Securities Investor Protection Corporation (“SIPC”), funds are available to meet customer claims up to $500,000, including a maximum of $250,000 for cash claims. For additional information regarding SIPC coverage, including a brochure, contact SIPC at (202) 371‐8300 or visit sipc.org. Please consider your objectives before opening an investment account. Investments in securities involve the risk of loss. A diversified portfolio does not ensure a profit or protect against a loss.
