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Reply to "Would you do UGMA/UTMA Accounts or 529 plans?"
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[quote=Anonymous]My daughter turned 1 and we got another $700 in gifts we want to invest. We are debating whether to put it in her 529 or open an UGMA/UTMA custodial account. As background, last year we put $5,000 for college in her 529 college plans. We live in VA and did the VA one. We noticed the return rate for last year was only about 9%. S&P index went up about 19%. So it it better to open an UGMA or UTMA custodial account and invest in that for better returns? I know the first $950 of earnings are not taxed, then at some point kid gets taxed at parent's income bracket (ours is 28% now), kid can use it for non-college purposes at 18, etc. Or just keep it in the 529 since the earnings are not taxed? Because our daughter is so young, we have 17+ years to invest and we're wondering where to invest, if we're going to put in about $5,000 yearly. Thanks! [/quote]
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