elsa
I have and Isa myself but would like to open and contribute to it for a family member. The contributions would be from my personal income which is surplus to my requirements. How do I go about this please?
1 Answer
Chiangmai
I think you meant an IRA, If such is the case, you would need to find out the family member's age and if he is currently employed. This is to determine if he would need, for example, a traditional or spousal type IRA. The age information will help us determine if he's in a catch-up mode, the older you are, the more the government allows you to "catch up" with your contribution. Lastly, stocks and shares can be bought through brokerage firms like Fidelity, Schwab, and Merrill Lynch. Your local banks may not offer stocks but can sell you mutual funds for your investment.
| 15 years ago. Rating: 0 | |
