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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76084  
Subject: Re: Education IRA Question(s) Date: 9/3/1998 5:41 PM
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Tim, you asked:

I want to set up Education IRA's for my kids but I'm not sure of the correct path. Is this similar to a regular/Roth IRA, where I could do a self-directed type thing at a discount broker? If so, I assume I would just contact them, tell them I want to establish an Education IRA account, shuffle the appropriate paperwork, then pick the stocks?

See my Foolish Retirement Plan Primer at http://www.fool.com/retirement for some info on EIRAs. The $500 limit per child per year means not many brokers will handle these IRAs. Nevertheless, for those who do there is no reason at all that they can't be established as a self-directed account. Like you said, it's just a matter of contacting the broker to set up the accounts for each child.

Regards….Pixy

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