Tag: custodial account
-
The Custodial Account Nobody Talks About
Everyone knows about 529s. Almost nobody talks about the custodial account — and that’s a mistake. A UTMA or UGMA account (Uniform Transfer to Minors Act / Uniform Gift to Minors Act) is one of the most flexible wealth-building tools available for children. No contribution limits. No restrictions on what the money can be used…
-
Three Accounts Every Parent Should Open Before Their Child Turns 1
The best financial gift you can give your child has nothing to do with a savings bond or a college fund they’ll raid at 18. It has to do with time. The earlier you start, the more powerful the math. Here are the three accounts worth opening in your child’s first year — and why…