[header] How to buy mutual funds for children [title] Decide the reason you are investing the money. [step] For many parents, they are saving for college, but for others, it may be for travel, medical expenses or living expenses. [title] Calculate the amount of time you plan to invest the money before your child needs it. 
[step] If your child is very young and will not need the money for 20 years, you will want to choose different investments than if the child needs it in 5 years. [substeps] You may be able to choose a target-date mutual fund.