Anyone have a custodial/ugna/utma account for kid?

Basically its an ira for young kids that arent on a payroll or get a w2.

Fidelity has minimum $2500 buy in, then you can invest in stocks, bonds, mutual funds etc.

Any of you do this? Phone Post 3.0

There's a fucking "kiddie tax" on these so if you deposit more than $2,000 it could be taxed at the parents' higher tax rates.

Wonder if its better for mah mini-mbns to wait and open a roth when they get their first jobs bagging groceries Phone Post 3.0

I have a UTMA through Fidelity. I liked it more than the 529 and figured I would be able to transfer it so he doesnt get it all at 18.

I noticed theres a Childrens Roth IRA now too. Wondering if I can roll into that eventually

I think for that the kid needs to be on payroll Phone Post 3.0