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8min chapter
496 | Mailbag: Roth vs. Trad, $35k Roth to 529, Combining Finances | Rachael Camp
ChooseFI
Implications of Gifting Money to Children
This chapter explores various considerations around gifting money to children, including holding money in the children's names versus the parents', utilizing UTMA accounts, and managing assets for college savings and financial aid applications. It also delves into strategies for investing in children's future through Roth accounts, 529 accounts owned by grandparents, and the impact on financial aid eligibility when transferring assets to children.
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