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I just got off the phone with a Schwab customer service representative who mentioned to me that she heard of a new "Custodial IRA". She did not know much about it since she just heard that the literature is available to order this week. I'm posting my question here to see if anyone has heard of this. If so, what's it about?

From what the representative was telling me, it sounds like an IRA for kids that can be funded by a custodian. Sounds too good to be true; but if it's true, I'm all ears!

Gracias . . . Ken
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