Question

Jordan is a great kid, and he works very hard at his favorite sport: basketball. He gets average grades at school because he spends a lot of his after-school time hanging out with friends and playing video games instead of doing homework. He earns money for doing lawn work and spends every nickel on new video games and eating out with friends. Jordan is about to graduate from high school, and his uncle is going to deposit money in an account for Jordan's future. "In 10 years, you'll need this money," he tells Jordan. If you were Jordan's uncle, which kind of savings account would you choose for your gift? Why?

Answer 1

I would use a savings account that would be administered by his uncle. Wasting money is a huge setback, and you say he prefers hanging out with friends and playing video games. Use an account that is viewed over by the bank, with restrictions, or his uncle and if he was to buy something useless, have his account terminated

Answer 2

I would choose a savings account that Jordan could not withdraw money from for a set amount of time because Jordan might spend all the money in the account and then there would be non left for his future, hope this helps