Hello everyone,
I am part of a very close knit group of friends. One of my friends recently had their first child. The other night, we all decided that for Christmas, we would each pitch in to begin some sort of savings venture for the little one that we could then contribute to on birthdays and holidays in the future.
Research thus far has not revealed an easy way to accomplish this. I have read a bit about 529s, custodial accounts, etc. Essentially, we are looking for something that incorporates the following:
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direct access by all the friends for the purpose of contribution
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limited restrictions on the use of the money upon withdrawal
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restricted or limited withdrawal capability for a long period
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high yield return
What’s the best way to approach this
Submitted November 24, 2018 at 08:58AM by diiizzzzoooo https://ift.tt/2Ra7sbb
