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"We have decided to open an UGMA account for our child and were wondering if we ave to wait until the child has a social security number to open the account for him or her."

Correcto on the SS#. Of course, you can still sock the money away and transfer it when the time comes. Before proceeding you should have a firm grasp of the pros and cons of UGMA accounts, as well as the other options, such as Education IRAs and 529 plans. A good discussion of the pros and cons of UGMAs can be found at If you look back at the board you can find useful information on all these topics. It does pay to get an early start (a bull market helps too!). Best of luck.

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