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Updated over 2 years ago on . Most recent reply

Brittany Snyder's profile image
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Brittany Snyder
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Brittany Snyder
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Brittany Snyder
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Personal Finance

Best interest earning savings account for kids

Brittany Snyder
Posted

My 15 year old son just got his first job! We could put a portion of his paychecks in a savings account at our local credit union but is there a better option with a higher interest rate where his money will grow?

Detroit, Michigan
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David M.
  • from Morris County, NJ
  • Member since Jan 26, 2020
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David M.
  • Morris County, NJ
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@Brittany Snyder

I'd put it into an IRA or Roth IRA account. lots of options to get better growth/income and also be tax advantaged.

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