You need to put them in a custodial brokerage account or whatever allows you to buy ETFs for them (not sure of best tax advantaged account for non-working kids)

You need to put them in a custodial brokerage account or whatever allows you to buy ETFs for them (not sure of best tax advantaged account for non-working kids) and buy the s&p or total us market. A bank account is horrible idea when they have a long time horizon meaning they aren't affected by ups and downs of market. Bank accounts are for 6-8 months of salary for an emergency fund. You can read this wiki or ask an AI about the strategy. https://www.bogleheads.org/wiki/Main_Page https://www.bogleheads.org/wiki/Main_Page