Yeah when I saw UTMA there I shook my head. Just what you need, a kid

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Oct 5, 2015
9:13:33am

supertux

Yeah when I saw UTMA there I shook my head. Just what you need, a kid

goes off the deep end and takes his inheritance and runs.

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supertux

Previous username: Hot Extrusion
Bio page: supertux
Joined: Nov 29, 2012
Last login: Jun 19, 2024
Total posts: 56,372 (17,615 FO)

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Messages

Author

Time

<< Deleted >>

cvd6262

10/4/15 10:18pm

I heard that silver is at an all time low

JohnnyComeLately

10/4/15 10:20pm

You might consider and UTMA account for each kid

KingDave

10/4/15 10:23pm

<< Deleted >>

cvd6262

10/4/15 10:32pm

They are not eligible 529 expenses because they aren't directly related to

KingDave

10/4/15 10:34pm

Why would they be?

Kerbouchard

10/4/15 10:34pm

<< Deleted >>

cvd6262

10/5/15 9:08am

Yeah when I saw UTMA there I shook my head. Just what you need, a kid

supertux

10/5/15 9:13am

We put our mission savings in my Roth IRA. Since contributions can be withdrawn

supertux

10/5/15 9:14am

<< Deleted >>

cvd6262

10/5/15 9:18am

BM Acorn, he's got great investment advice.

Veracruz

10/4/15 10:35pm

All depends on how long until you need the money and your risk tolerance.

Kerbouchard

10/4/15 10:37pm

Ours is invested in a target date fund

supertux

10/4/15 10:49pm

If you don't already know, I suggest you pick a "To" maturity date not "Through"

DumpsterFire

10/5/15 12:06am

Muni or treasury bonds are tax free. Rate of return might not be that great. But

SoValleyCOUG

10/4/15 10:58pm

Why Save for Mission

10/5/15 4:05am

<< Deleted >>

cvd6262

10/5/15 7:24am

This. Unless you've already maxed out your tax-advantaged savings vehicles

10/5/15 8:12am

Just Auto Insurance and Food and you're about even. With tax break you're making

byucougarsbig12

10/5/15 8:21am

This I agree with. Cost less than him being home, or about the same.

Singcat

10/5/15 8:58am

How about a donor-advised charitable fund?

CougaReb

10/5/15 7:32am

I like this idea. Most donor advised funds require like $5k min deposit though

supertux

10/5/15 8:43am

<< Deleted >>

cvd6262

10/5/15 9:04am

absolutely

supertux

10/5/15 9:07am

This is true. Fidelity requires an initial deposit of $5K, but then allows...

CougaReb

10/5/15 1:41pm

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