A plan for the future.QA Reading your April issue has given me so many ideas for my children to learn about investments. I would like to learn more. What additional information can you give me about programs for children, investment clubs, and the National Association of Investors Corp. (NAIC NAIC See National Association of Investors Corporation (NAIC). )? Naeem Brebnor, Queens, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of We strongly believe that putting children on the path to financial education will result in the development of financially literate and empowered adults. As you read in our "About This Issue" column in the April 2001 issue, we highlighted the Bull & Bear Investment Camp in Kansas City, Missouri Kansas City is the largest city in the state of Missouri. It encompasses parts of Jackson, Clay, Cass, and Platte counties and is the anchor city of the Kansas City Metropolitan Area, the second largest in Missouri, which includes counties in both Missouri and Kansas. , which is conducted by the investment firm Moody Reid Inc. (Call 816-753-7552 for details on the program.) Also, for the past six years, we've been committed to teaching children about financial and business practices through our Kidpreneurs Konference, which is a part of the Black Enterprise/Bank of America Entrepreneurs Conference, held this year in Nashville, Tennessee “Nashville” redirects here. For other uses, see Nashville (disambiguation). Nashville is the capital and the second most populous city of the U.S. state of Tennessee, after Memphis. , from May 15-20. We also publish two newsletters, Black Enterprise For Teens[TM] and KidpreneursAlews[TM], which focus on these matters. In addition to participating in these types of activities and subscribing to our newsletters and like publications, one of the best ways to initiate your children into the world of investing is giving your children stocks and mutual funds as gifts by establishing custodial accounts Custodial Account 1. An account created at a bank, brokerage firm or mutual fund company that is managed by an adult for a minor that is under the age of 18 to 21 (depending on state legislation). 2. A retirement account managed for eligible employees by a custodian. under the Uniform Gift to Minors Act (UGMA See Uniform Gifts to Minors Act. UGMA See Uniform Gifts to Minors Act (UGMA). ) through banks and mutual fund companies. (Shares of the fund are held in trust until a child comes of age.) Another route is the one you suggested--investment clubs. Contact the NAIC, a trade association, for more information at 877-ASK-NAIC, or log on at www.betterinvesting.org. Mail your finance questions to Ask B.E., BLACK ENTERPRISE, 130 Fifth Ave., New York, NY 10011, or send an e-mail to dingled@blackenterprise.com. |
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