Tony Durkan and Kelly Lannan, financial experts at Fidelity Investments, shared tips to help parents secure their child's financial future, including ways to save and build credit.
College tuition is on the rise, living costs are high and the future is uncertain. Combine that with the pressure to secure your child's financial future, and it may sound intimidating. However, a few expert-approved moves can help pave the path for their success. "It's important for parents to save what they can, when they can," Tony Durkan, a vice president and head of 529 relationship management at Fidelity Investments, told Fox News Digital.
Kelly Lannan, senior vice president of emerging customers at Fidelity Investments, told Fox News Digital there are perks to custodial accounts and helping your child build good credit, all with the goal of establishing good habits that kids and teens can carry into their future. Custodial accounts, or accounts that adults manage on behalf of a minor, help parents invest or save for their children until the account is turned over to the beneficiary at a certain age.
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