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>> May I start an education IRA now even though I do >> not even have a twinkle in my eye yet?

Yes, it's "allowed" (possible according to rules). But, you have to find someone under 18 who you can designate as the beneficiary, and you have to trust this person to go along with a transfer of the EIRA to your child after he/she is born. I believe it may have to be a relative and they can't transfer until they are 30.

Eric Morton
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