529 VS UTMA: WHICH PLAN SHOULD I CHOOSE?
| When saving for your child’s future, there are a few options to consider including a 529 or a UTMA. Knowing the differences between these two accounts can help you decide which one fits better into your specific goals.
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0:00 - 529 vs UTMA
0:33 - What is a 529 plan?
1:05 - What is a UTMA?
1:52 - What are the key differences between a 529 vs UTMA?
1:58 - 1. Account ownership
2:45 - 2. Financial aid
3:31 - 3. Qualified expenses
4:43 - 4. Taxes
6:07 - 5. Gift Tax
7:49 - 6. Investment options and contribution limits
9:21 - Should I choose a 529 plan or a UTMA?
10:08 - Can I have both a UTMA and 529?
**RECOMMENDED READING LIST**
The One-Page Financial Plan by Carl Richards (easy read, holistic + fun graphics!) amzn.to/35NH54Z
Simple, Smart Investing by Ian Kennedy (can help you construct your investment portfolio)
amzn.to/32GRJbJ
A Random Walk Down Wall Street by Burton G. Malkiel (classic book that sold me on index funds) amzn.to/2H7pbzS
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