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WCI #327: Send Your Kids to College

White Coat Investor Podcast

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How to Set Up Beneficiaries in the Event of a Minor Son's Death

If your kid has earned income, they can contribute to a retirement account like a Roth IRA. If you happen to want to give them the equivalent amount of money out of your pocket, that is allowed up to $17,000 per year without any gift taxes being filed. You just got to ask yourself, where do you want the money to go if they're going somewhere? But in general, if there's still a minor, there's still going to be a custodian.

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