What are some other things I can invest in for my kids other than 529 Savings plans and CDs? Would consider small startup business investments too.
Love the name and ambition.
It's unlikely you'd be able to invest in start-ups in your kids' names directly. Many private financings, like investing in a start-up, require the investor to be an accredited investor - have a net worth of at least $1,000,000, excluding the value of one's primary residence, or have income at least $200,000 each year for the last two years (or $300,000 combined income if married) and have the expectation to make the same amount this year.
But if you created a trust for them, that's definitely an idea.
AngelList (angel.co) and MicroVentures (microventures.com) are two good places to start.
But you can still invest in loads of other things:
My biggest recommendations though are always to invest in:
And if you won't take it from me, here's some classic advice from the world's greatest investor, Warren Buffet.
Thanks @EricG. I appreciate the advise. I'm going to look more into cryptocurrency since that was already on my to-do list. And I do agree with that article. Mr. Buffett's advice is indeed "timeless." I'm just starting some courses on learning to invest in stock so that I have a better understanding of that industry.
My pleasure, @bossmom4life !
Crypto-currencies are definitely a hot button these days, so I don't blame you for researching them. You can also invest in traditional currencies (US dollars, Euros, Canadian or Australian dollars, Japanese Yen, etc.) with much less risk.
Here's a quick article on how it works. It could be useful to understand how regular currencies work before you invest in crypto-ones.
Please feel free to share what you're learning! I'd love to hear and learn more myself. 🙂
Please proceed with caution on crypto currencies.
Bitcoin is almost down 65% from its mid December high and continues to have a downward bias. https://www.cnbc.com/2018/04/04/bitcoin-price-below-7000-ripple-ethereum-and-other-cryptos-drop.html
You can chart its progress at www.bigcharts.com by entering the Bitcoin Investment Trust-GBTC.