How to Manage Your Daughter’s Red Envelope Money

I've come across a story like this for the second time. It was a long time ago — possibly even the author's own experience, if I recall correctly. He apparently opened a dedicated securities account for his daughter. Her yearly lucky money, or cash rewards for helping with chores and doing well, would be handed over to him for investment, with the agreement that she would receive it back when she turned 18.

I remember clearly: at that time, he had already bought $40,000 worth of stocks for his daughter. This author likely read that same story — or perhaps he was the person it was about — and is now doing the same thing.

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