I currently have 3 children (newborn, 2, & 3) and I manage UTMAs for all. Every birthday and holiday check is deposited into their accounts. We also put an additional deposit in every month. Money is used to invest in VOO and VT. We don't necessarily have to invest for college (so no panic for a 529), as they'll have my husband's veteran DEA benefits until 26yo. These stocks are to just build their portfolio.
With that being said, should we continue to deposit all monetary gifts into the UTMA? Or, balancing some funds into a custodial savings account? That account would have an 2.50% APY.
Are there other accounts I'm not aware of we could be using for them, in addition to the UTMA? Or any other stocks we could be investing in? I have debated incorporating RKLB or PLTR but feel it might be safer to keep it just VOO & VT?