this post was submitted on 12 May 2025
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FIRE (Financial Independence Retire Early)
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Sounds like my first nibling will be born today or tomorrow (sister is being induced today)! Anyone ever deposit a gift to a 529 for someone who isn't their child? Curious if it's better to start one myself with them as the beneficiary or ask the parents for their account (assuming they set one up)?
I do 529 contributions for my niece and nephew. I pestered my brother until he finally opened accounts for them rather than doing it myself. Primarily because I wanted him to feel ownership of the process and (hopefully) get in on contributing as well.