My parents want to give my new baby some money for a savings account. However, if its just going to sit there for 20 years, I’d prefer for it to gain interest/dividends. Is there any easy way to setup a fund that tracks s&p500 and preferably tax advantaged? Or am I better off just investing in the relevant mutual fund.
529 or UGMA/UTMA generally depending on goals then stuff like a normal brokerage in the kids name (but this isn’t tax advantaged) if you want to go further