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Reply to "If your kids have UTMAs"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]13 yo He has 12k in utma 30k in Roth 300k in 529. [/quote] How did a 13 year old earn money + contribute according to the annual limits for a Roth now worth $30k[/quote] Side jobs such as cleaning service for rental properties. [/quote] How many times did a kid do this? For how long and what rate? With no oversight (which means even $10 an hour is a loss)? Even an apartment complex doesn’t usually have massive turnover. Is this essentially completely faked?[/quote]
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