Advice on UTMA account
So I set up my 6 year old an UTMA account with TD Ameritrade. I know very little about investing for the future. I have an account with play money that I mess around with.
My question is: So far I’ve added 1 AAPL 1 DIS and 5 INTC. Right now I have about $1000 cash and plan to fund his account with ~$150-$200/month. The thing is I want to set it and forget it. I’m not expecting $500,000 when he turns 18 but I think it’d be a pretty cool gift to give him a nice head start. Should I use the cash I have now to just buy JNJ, JPM, KO and dividend stuff? Or SPY or QQQ? When I say I wanna forget it I don’t want to be adjusting based on random news cycles. Just put money in the same things every week and check back in 2032. Or is that dumb?