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URL:  http://boards.fool.com/want-to-give-sister-retirement-andor-down-pmnt-20807503.aspx

Subject:  Want to give sister retirement and/or down pmnt Date:  5/24/2004  1:38 AM
Author:  sprexumn Number:  71938 of 124586

Here's my situation, and I appreciate any advice.

I am in a place where I'd like to give my sister $20k, and make sure it goes to a good use. After floating lots of ideas with her, the idea that we agreed on would be for me to use the money to help her fund an IRA, that she could withdraw for a downpayment on a first time home if that made sense, or keep for retirement otherwise. One main reason for the IRA rather than just giving the money straight out is to keep it the money from being a temptation. We don't want it to get used for day to day bills or debts or vacations or whatever.

Only now that I start looking at putting this into action, I'm realizing there are some problems with this plan:

1. The minimum she can contribute is a few thousand per year (increasing over time, but still nowhere near $20k). There's no way to get the whole $20k in at once.

2. She's getting married in a couple of months, and I would like to get this money transfe