Personal Finance Guides for Expecting Parents

Start early. Find everything you need to prepare financially for the arrival of your little bundle of joy, and set the little one for a great financial future.

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Betterment

Why we like it:

Extremely easy to use, with no minimum to open an account. Automatically managed smart investments based on your goals combined with a great website and app make this a great investment tool for new investors who want a hands-off investment experience, with a technologically pleasing platform.

  • No minimum to open managed investment accounts
  • Annual advisory fee of 0.25% of total investment assets
  • Great user experience on website and mobile app
  • Automatic features like portfolio rebalancing, dividend reinvestment, and auto-adjust
  • Socially responsible investing options

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NY 529

Why we like it:

Offers low fees and diverse investment options and available to residents of any state. New York residents enjoy a state tax deduction for contributions to the plan.

  • No minimum to open an account or to contribute
  • Low fees - 0.13% total annual asset-based fee
  • No advisor fees, commissions or account maintenance fees
  • State tax deduction of $5,000/yr for single filers, $10,000/yr for joint filers
  • Offers Age-Based investment plans, reducing portfolio's risk as child nears college years
  • Top 10 performing 529 plans by SavingForCollege.com

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Axos Bank

Why we like it:

One of the highest interest rates on savings accounts, at an online bank. Great if you're just looking for that high return.

Take your money further, faster. No monthly maintenance fees. No minimum balance requirements. Interest compounded daily. This is high-yield savings, evolved.

  • Easy to open accounts online
  • Offers custodial savings accounts, truely owned by your child
  • High yield savings account
  • Interest compounded daily
  • Requires initial $250 deposit to open an account
  • No minimum to balance to hold account
  • No monthly fees

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A Guide for your Financial Parenting Journey

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