Planning now for the rainy day..

[Dhor Matt]

What is the name of your state? California

Hi.
First off, I'd like to thank those who helped me with my last post. It was very helpful and extremely appreciated.
With my rising learned insightfulness concerning greedy heirs, I come to you in hopes of building a solid foundation to leave my grown daughter and especially her son.
I would like to start a savings account with the emergency funds I've stashed away. I can't let my husband or daughter know or they'll spend it. It must be highly protected against them. Retirement funds, 401k funds, do not work. I've invested and they've spent now and pay the penalties later.
Are there any FOOLproof ways to help my grandson? His mother is becoming more and more responsible, just not at this time. I can't let her know or she will slip and slide knowing she has a 'buffer' to bail her out.
I could really use a safe Foolproof plan concerning their future, that I can add to monthly. Any ideas?
Dhori

 

[Dandy Don]

Talk to someone at your bank about this. A money market fund might be good or they could help you set up a trust account set up to go only to a designated beneficiary.

 

[tomverna]

Sounds like your heart is in the right place. More power to you. How about opening up a box at Mail Boxes Etc. and invest in anything you want. Just give your address as the Mail Box Etc. address and a work phone number. No one at your home will see any correspondence about any accounts. Then you can invest in whatevcer you want. If you don't have much to invest, the mailbox may not be worth it's cost, but maybe you can use some other address. Good luck. Tom