The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Uncharted waters||Date: 10/13/2012 12:40 PM|
|Author: reallyalldone||Number: 116790 of 125435|
You may want to look at this blog - http://www.minorcon.org/index.html.
I think the main issue with IRA/ROTH IRA is that DD would be able to do something foolish, as opposed to Foolish, once she hit 18.
With 529, it must go to educational expenses.
Did you ever go look at fairmark.com concerning tax issues for minors ?
You also may want to consider the ethics of what you are doing and consider teaching your child how to handle money along the way instead of making the assumption that she would make poor choices.
If college for her is important to you, consider saving your money to pay for it.
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