We just put all monetary gifts they’ve received since birth in them. We don’t contribute. The 15 yo adds her babysitting money. Most of it is invested in ETFs.

10: $27k
15: $34k

Anonymous wrote:honestly i just don't see to point in contributing to these accounts. not worth the hassle for how low the contribution limit is.

???
The contribution amount is basically unlimited if you’re creative. A $180,000 balance of all VTI in a UTMA turns off ~$2,700 in dividends yearly which is taxed at 0% under current law.

Anonymous wrote:How old are they
What’s the balance
Do the kids know the amount
How are you teaching them to handle when they turn 18 (or do you plan to spend it before then)?

4
$65,061.97
lol, no
This is his launch money…condo, business seed money, professional office set-up, whatever, etc., don’t really care as it’s enough to get experience with but not really enough to mess up his future forever if he happens to blow it…he’ll learn either way. If it’s not $100k by age 8, and/or $200k by 18, I’ll top it off to get it there. I do plan to incentivize him to keep it intact until he’s 25, then finally turn it loose when his brain is finally mature. Goal is to turn over ~$300k by 25. Original gift in mid-2022 was $35k of appreciated stock. The real goal is to never let the dividends be higher than the kiddie tax limit (currently $2700 for 2026). I do tax gain harvest it just up under the limit yearly and file a paper tax return for him. Also, it’s 100% VTSAX.
I run a Bank of Dad (BoD) for him and pay 6% interest. He’s free to deposit any cash gifts from grandparents with me and collect/re-invest the interest at the end of the month. He seems to understand as long as he deposits the majority of whatever cash he comes into, the monthly interest continues to grow. Fingers crossed that this inspires a lifetime of “paying himself first”.

honestly i just don't see to point in contributing to these accounts. not worth the hassle for how low the contribution limit is.

I dropped $3k in one for my 7 year old when she was 4ish? It's about 5,500 now. She doesn't know about it.

Will open one for my 1 year old around the same age because I'm a Gemini and fairness is important to me!

The main goal was always to have a little bit of money for them to feel "ownership" of when they're in their teens, so they can learn about investing with some capital but lowish stakes and have some money when they hit early adulthood for first/last/security or a first car or something. Most of the money I save for my kids goes into their 529s or our family brokerage for flexibility.

Mid to high six figures for most of their lives. This year - multiples of that, but they received the same amounts they always do. I grew up without any money and mostly ignorant of this world. I dont want my kids to have it that way.

About close to 90K total. Yes, they know how much is in it - 17 yr old, and they are going to use most of it to pay for an expensive oos college because we have enough in the 529 to pay for in state or cheaper oos, but not expensive oos. They are the ones who wanted to do this.

We have enough to cover up to junior year, but DC will have to pay for senior. So, they can probably manage that on their own, maybe.

Anonymous wrote:90k in utma for the 7yo; separately 125k'ish in 529
60k in utma for the 4yo; separately 80k'ish in 529

Wow!! What’s your HHI? That’s a crazy good savings rate for such young ages.

Kid is 14, account has about $200. It's his own money from birth day presents and his allowance that he wanted to put in the stock market.

20 year old had UTMA that transferred to her control at age 18 per Virginia law. It is no longer a UTMA. She placed me as an authorized user so I can add money and make investment decisions, but I cannot withdraw funds.

90k in utma for the 7yo; separately 125k'ish in 529
60k in utma for the 4yo; separately 80k'ish in 529

My kids have UTMAs around $50K each. They are late teens and early 20s. I put all birthday money and unspent summer job money into this account for them. The thought was that they would use it for a big purchase like a car, but we’ve been handing down our old cars so I’m not so sure. I’d like to roll it into a Roth for them, but they may want it for a down payment or something else. We will probably cover graduate school.

One kid wanted to spend the money on a flashy car but ultimately couldn’t afford the insurance on said flashy car. I regret that one knowing about the money because they’re a spendthrift. I don’t have the same issue with the others.

Anonymous wrote:Mine had an UTMA for about three years, funded with an inheritance. He knew the balance from the beginning, as well as how the investment decisions were made, as he knew it was intended for 1/2 his college expenses.

We transferred it into a joint account just before he went to college, as he admitted it would be best if I was there to manage it and pay things when appropriate since he didn't have the bandwidth. I told him he has a year after he graduates and then any remaining funds need to be in an account in his name only!

The balance was 80,000 when opened and is currently about 63,000.

Mine had an UTMA for about three years, funded with an inheritance. He knew the balance from the beginning, as well as how they the investment decisions were made, as he knew it was intended for 1/2 his college expenses.

We transferred it into a joint account just before he went to college, as he admitted it would be best if I was there to manage it and pay things when appropriate since he didn't have the bandwidth. I told him he has a year after he graduates and then any remaining funds need to be in an account in his name only!

How old are they
What’s the balance
Do the kids know the amount
How are you teaching them to handle when they turn 18 (or do you plan to spend it before then)?