[DaKCMan AP]

Originally Posted by Hog Farmer

Thanks for that, I've been talking to my daughter about that. She just turned 16 and has $2500 in a mutual fund that grandma put in . But she also has $5000 in her savings account she has accumulated. I'm trying to convince her to let me move her savings into the mutual fund. The mutual fund averages a 9% return. Her savings account brings 0.50%

Does your daughter earn any income? If yes, you should open her a Roth IRA and allow her to start earning tax-free.