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My kids are 11 and 13, and I'm thinking of opening an Education IRA for them (better late than never??) A CPA friend of mine advised against it, saying that I could only invest $500 per year anyway, and it wouldn't amount to much. Well, I can't afford much more than that anyway - is there any GOOD reason for not doing it? Can I open one IRA and deposit $1000 per year since I have 2 kids, or do I have to open two accounts? What if they decide not to go to college?
Where can I get more info on this?

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