Originally Posted by olerodder
Personally I think it's pretty smart to not let your children have access to the money are saving/investing for them at least until they are 35 or 40...then you can teach them.............plus it would come in handy if you wanted to buy ant ATS-V...borrow money with no interest..............sounds logical to me.
As a 20 year old i would have to disagree. Most of the time someone in that age who is saving and investing generally is smart enough to know the importance of it. I try not to take any out. But there are times where i take a little out to pay for something important, such as tuition which i'm going to have to pay for in a few weeks. So saving up now that way i don't have to pull as much out when the time comes. But i still regularly invest, and take the money and move it between different investments depending on where i want it.
By the time someone is 35-40 there may be a chance that their parents aren't around anymore. Also once you turn 18 if the money is yours then you are going to need to have it in your name, which will give you full control over it, otherwise its your parent's money then.