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Reply to "Custodial Account Question"
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[quote=Anonymous]We turned over accounts of $300k-500k to each kid when they turned 21 (we were allowed to opt 21 vs 18). However they know that money is for financial security later in life, not to go out and buy a sports car or something. It helped a lot when they were applying for rentals out of college as they looked like a good risk. They’ve also seen how money well invested can grow and are motivated to continue maxing out 401k etc. I guess my point is to teach them how to handle it.[/quote]
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