Millennial Money: Get kids set to invest with these accounts

By ELIZABETH AYOOLA of NerdWallet

Custodial accounts are a way to invest for minors and give them a headstart on building wealth. How can you ensure they’re financially responsible enough to manage their assets when they reach the age of majority? One way is to share your money values with them and teach budgeting basics as well as saving tactics early on. You can also educate kids on the power of investing by showing them how compound interest helps their money grow over time. By teaching them financial basics and delayed gratification, they may have better success managing their assets in the future.