/biz/ - I have a newborn and want to set up a fund for them. Please offer advice - Business & Finance

Anonymous (ID: SIMejPYN) Archived

I have a newborn and want to s(...) 12/05/25(Fri)18:16:46 No.61446377

File: iStock-509465887.jpg (170 KB, 724x483)

I have a newborn and want to set up a fund for them. Please offer advice Anonymous (ID: SIMejPYN) 12/05/25(Fri)18:16:46 No.61446377 Archived

My understanding is that 529 is for education only, UTMA (Uniform Transfers to Minors Act) accounts allow transfer of a broader range of assets, earnings are taxed at the child's potentially lower tax rate, Contributions are not tax-deductible and then a Custodial Roth IRA Contributions (made with after-tax dollars) and qualified earnings withdrawals are tax-free. Contributions can be withdrawn at any time without penalty. Is a UTMA and 529 overkill?

Anonymous (ID: X5PDAycS)
12/05/25(Fri)18:34:24 No.61446444

Anonymous (ID: X5PDAycS) 12/05/25(Fri)18:34:24 No.61446444

Just buy him an ounce of gold and give him ~10 ounces of silver every birthday and he’ll unironically be set for life.

Anonymous (ID: bCkTTQEx)
12/05/25(Fri)19:19:18 No.61446591

Anonymous (ID: bCkTTQEx) 12/05/25(Fri)19:19:18 No.61446591

>>61446377
We're all virgin incels who gamble their pocket money on the most obscure shitcoins here, you'd probably don't want to take advice from us