Invest in the market is the prudent thing to do. Yes, taxes are high but the tail shouldn't wag the dog.
Great idea!Absolutely correct advice for a normal situation.
But I suggest picking two companies because of the learning experience. He can follow those companies and see how the share price reflects their performance.
The alternative of buying an ETF has some learning value, but not nearly as much for a business student.
I suggest Irish companies for the same reason. Easier to follow as they are well covered by Irish business journalists.
But buying Apple or Meta might also be a good idea.
So, on reflection, one Irish company and one hi-tech company.
Brendan
There's a bit of tax and other admin involved, opening accounts etc.
If there are dividends, they have to be declared in the person's tax returns each year.
As long as your child is up to all that stuff, that's fine.
ALSO, if your child is applying for the SUSI grant, do they want to have assets in their name?
Ah good point. Thank you. There is a possibility of a non means tested scholarship.There's a bit of tax and other admin involved, opening accounts etc.
If there are dividends, they have to be declared in the person's tax returns each year.
As long as your child is up to all that stuff, that's fine.
ALSO, if your child is applying for the SUSI grant, do they want to have assets in their name?