The most important investment decision you'll ever make is to start investing. Time is your best friend in investing, and if you start an account when your loved one (or friend) is young, you'll set them up for the best possible outcome.

I recently did the same for my newborn, hoping to set her up for college, retirement, or other expenses she'll incur early on in adulthood. Some may think determining my first investment for her would be difficult, but it was a no-brainer for me.

My first purchase for my daughter was the Invesco QQQ Trust (NASDAQ: QQQ). This ETF tracks the Nasdaq-100, which comprises some of the most innovative companies in today's society. Take a look at the top 10 holdings in the fund and tell me that these companies won't continue changing the world over the next couple of decades.

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Source Fool.com