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STIS: If I wanted to set aside some money to invest for my kid, is there a preferred account to do so?

Posted by Will Hunting (aka JoeMetz) Sep 23 '14, 09:30

I don't want to put money aside that no one can touch for decades without penalty.

Is a custodial account suitable or am I looking at another option?

Responses:

UGMA/UTMA -- (link) - znufrii Sep 23, 10:14 2
- I know you weren't answering me but. I was exicted to read this until I saw this - Bacon Sep 23, 10:21 1
  - there's that, yes - znufrii Sep 23, 10:26
Canadians have the RESP, not sure if the US has an equivalent -- nm - Beaker Sep 23, 09:44
Pumpkins. -- nm - Krusty Sep 23, 09:41
Custodial Account trust fund, Savings, or portfolio? - Bacon Sep 23, 09:40 2
- Okay, this is more what I'm looking at. I'll probably set up a talk with my broker for Friday and go over options. -- nm - Will Hunting Sep 23, 09:43 1
  - Let me know what you find out. I don't want it taxed as a gift when I hand it over so that's where I am kind of stuck. thx in advance -- nm - Bacon Sep 23, 09:45
[deleted]
You might look into your state's 529 plan. -- nm - Was Bar Was Sep 23, 09:39 2
- I'm not looking for a 529. - Will Hunting Sep 23, 09:42 1
  - My mom has him in a 529, just FYI. -- nm - kelly Sep 23, 10:30
I'll hold it for you -- nm - groiny Sep 23, 09:31
Beanie Babies aren't the preferred choice any more? -- nm - Beryllium Sep 23, 09:31

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STIS: If I wanted to set aside some money to invest for my kid, is there a preferred account to do so?

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