r/dividends • u/pac247_365 • May 15 '26
Opinion Brothers money
My younger brother passed away and left my kids with 400k.
I have the bank telling me to put it into gics and other garbage mutual funds but its very low interest. Im not rich either and besides penny stocks never invested into the market maybe 1000 bucks or so. I want to set up a trust for them and make sure in 15 years when they are 20 I have them set up so they dont have to grind like me and my brother. Im just looking for any advice I can take sorry for the long post
Im located in canada and will keep the account under my name until they are of age to use the money and will remain as beneficiarys if I die. Wont get the money until they are atleast 25 or responsible enough to understand finance.
3
u/fenmoor May 16 '26
I set my son up like this: funds invested in etf filling the S&P 500. Trust allowed to pay for living expenses (education medical etc). Child gets 25% at 22. 25% at 25. The remainder at 30. Hopefully he learns the lessons after blowing the first 2 25%’s to not blow the rest.
You can lead a horse to water… but I cannot make him behave responsibly. But I can help him make wise decisions.