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Absolutely no regrets of having money in my daughter's custodial accounts. First, it teaches her to be responsible with her savings as she gets to determine where the next chunk goes. Second, it starts her with a nest egg for future education or living choice when she becomes of age. Third, it is a great way to teach kids about personal finance and the choices that have to be made over time. Fourth, it guarantees that there is something there to start her adult life with.

I am not concerned with how the financial aid percentages will be treating her assets because we do not know what will be the standard in 10 years. I am not concerned as to how she will choose to use the money once she becomes of age and can use it as she likes; I will have given her a solid basis of personal finance and she will have hopefully caught the kite string. (She already does this at the age of 9, she reads the financial statements and does math computations with a spreadsheet and calculator to see if improvements are being made.)

I am concerned with asset accumulation in the event that she does want to attend college, so we try to pack away as much as possible each quarter. Even if she does not want to attend college right out of high school, she will have a nice egg to draw from when she does make that decision or she will have enough to begin life comfortably.

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