Reply to New 530A "Trump Accounts" for Kids

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Anyone else considering adjusting how they allocate to their kid's 529s?   [/quote]

these accounts are nothing new and I don't know why people are excited. Open an UTMA/UGMA and at least your kids have liquidity, taxed more favorably once they are 18-21, or let it ride.

If you want a free $1k, go for it, but contributing to these versus other avenues is just buying into the brainwashing that these are life changing accounts
[/quote]

While we can use these accounts, they aren’t for us. They’re an attempt to incentivize people to participate in the stock market starting at a young age. This has been opt complained about in this forum how 40% of the population aren’t reaping the market gains. Here you go. Start somewhere. [/quote]

+1. This wasn’t created for parents / kids already using 529s and other investment vehicles (although they also benefit). It’s to help “catch” all of the kids with parents who don’t invest, either at all or on their behalf. [/quote]

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