AquaY
Member
A UTMA account.Thinking ahead for someday when I have grandchildren (God willing). I'd like to set aside $5K to $15K worth of TSLA for college (or more). A dedicated 529 will NOT let you invest in individual stocks. A Roth IRA is perfect because it works for college and any extra then works for retirement, except you can't contribute to it until they are old enough to earn money themselves....What's the best strategy for setting up TSLA for college?
You can set one up easily and after it is set up transfer (gift) the stock to it.
When they are 18 they simply need to set up their own account and give you the account number and you transfer the UTMA to their account