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)?
Just to add... I like the idea of yousetting one up. It gives you options over the next 20 years. Maybe the parents divorce, maybe it turns out the parents will withdraw the money someday for an emergency, maybe thekids just hates you. Who knows. But if I wanted to setaside funds over the long haul in a 529, I'd want the control over it and how its invested.