Best way to save money for child’s future ?
I want to start saving for my baby but I want something with a high return not just a savings account. I want to be able to add money to it and also be able to spend it on whatever she wants when she turns 18. What is the best savings way to do this? Opening a index or mutual fund or just one stock for long term? Thanks!
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Mutual fund maybe. Not one single stock.
Start a 529 education plan. Her biggest expense at that point will be education.
Where you want that money invested...speak with a professional.
You might consider some diversification; a mix of index funds, bonds, specific stocks (if you're feeling risky), etc.
That depends on what child saving accounts is available and that depends on the country
one stock is way to risky. An index fund is better.