Three Ways to Start Saving for Your Child’s Future

Savings and custodial accounts are easy and effective, and don’t overlook trust funds — they’re not just for the wealthy. The earlier you start, the better.

An astonished-looking toddler watches her smiling Dad work on his laptop at the kitchen counter.
(Image credit: Getty Images)

A parent’s responsibilities are seemingly never-ending and ever-growing. All parents want to make sure they’re teaching their children everything they need to know before they set out into the world on their own, but one thing that’s especially critical for parents to consider and prioritize is saving for their children’s future. $10,000 invested at age 25 will grow to $250,000 by age 60 at 10%. Meanwhile, $10,000 invested at birth will grow to $3 million by age 60. The first 25 years really matter!

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Kerim Derhalli
Founder and CEO, Invstr

Kerim Derhalli is the founder and CEO of Invstr, an award-winning financial education and investment app. Invstr’s mission is to empower everyone to take charge of their financial future. Invstr has been downloaded over 1,000,000 times by users in over 220 countries. Prior to Invstr, Derhalli built a 30-year career building, growing and managing multibillion-dollar businesses at leading financial institutions all around the world.