The amazing power of compounding makes it easier to grow wealth the earlier in life you start investing. So, perhaps you want to help give your grandkids the financial leg up in life that you wish someone had given you, by buying stocks for them. We asked three of our contributors to name a stock that he or she believes would make a great investment for a child.
American Water Works (NYSE:AWK), the largest investor-owned water and wastewater utility in the United States, would make a great stock to buy for a child if your goals are: Buying an "autopilot"-type stock, Generating superior long-term gains and Igniting an interest in investing. A great stock to take advantage of your grandkids' long time horizon for investing, and to get in on the Internet of Things (IoT) -- a multitrillion-dollar market opportunity -- is Synaptics (NASDAQ:SYNA). If you're looking for a "set it and forget it"-type stock for your grandchildren, my suggestion would be to consider utility giant NextEra Energy (NYSE:NEE).
Source: Motley Fool
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- 3 Powerful Concepts for Compounding Wealth with Dividend Stocks
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- 5 Higher Yielding, Lower Risk Stocks To Perk Up Your Dividend Income
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