Financial folks

[WeycoDawg]

Need advice on best credit card options. My 18 y/o daughter is a saver and has a checking & savings account. She’s put away about 12k this year alone in savings and wants to start a Roth and open a credit card account to establish credit. Any recommendations on a Roth as far as ease ability and support? Also, what is the latest credit card you recommend for someone younger. I use a visa rewards card that sends my points to fund the kids 529 plans

 

[shiv]

Damn good on her.

From what I know Vanguard and Fidelity are the best options for Roth

I would suggest going with Vanguard and stick every dollar into VBIAX. It’s the one fund that Buffet suggested his kids to buy and you will never need anything more than that

As far as credit cards, might just look at one from yalls current bank. Keep it simple to get credit started and everything will be contained in the same spot

 

[WeycoDawg]

Damn good on her.

From what I know Vanguard and Fidelity are the best options for Roth

I would suggest going with Vanguard and stick every dollar into VBIAX. It’s the one fund that Buffet suggested his kids to buy and you will never need anything more than that

As far as credit cards, might just look at one from yalls current bank. Keep it simple to get credit started and everything will be contained in the same spot

Thank you. Looking into VOO and will also consider VBIAX. My daughter is super smart and is really good with her money so she wants to start a ROTH now b/c she understands the strength of early investment dollars going to work.

 

[shiv]

Thank you. Looking into VOO and will also consider VBIAX. My daughter is super smart and is really good with her money so she wants to start a ROTH now b/c she understands the strength of early investment dollars going to work.

VOO is a perfectly good choice. VBIAX just adds some bonds, but she really doesn’t need to worry about holding bonds at her age

Some people just get anxious about dumping every bit into the stock market even if it’s the better choice

 

[cktraider]

I have a Vanguard one I opened myself right after college. Very easy and I would recommend. Tell her to keep at it, I stopped after a few years. Wish I would have kept it up.

If she travels, Chase Saphire Reserve is a great card but it may be overkill for a young person. Costs a lot but a bunch of free shit comes with it. They have several lower level cards that I have as well, but the points all merge with Chase for me.

 

[s-ou-thern]

If airline tiers and hotel tiers are not important, she should just go with a low annual fee.

 

[Golbez]

I got started on Capital One Platinum many eons ago when I was 17 and still view it as a valid choice for teenagers. Soon as you can though I'd hop over to their other cards for their rewards, but having good history on that Platinum card greatly increases chances for the better ones and it usually comes with $0 annual fee.

 

[ttyh]

When I was 18, I typically had enough saved up for 3 tacos from Jack in the Box for 99 cents and a 12 pack of Natty Light. Hope this helps.

 

[Praise]

When I was 18, I typically had enough saved up for 3 tacos from Jack in the Box for 99 cents and a 12 pack of Natty Light. Hope this helps.

Hey Dear friend ttyh I miss to here from you, How are you doing?