A friend of a friend has three young children, and wishes to provide for their future. They're looking for an instrument that makes sense.
They don't want to do a 509 education fund (which MUST be used for education) because they want to give each kid the option to do something else: own a business, buy property and manage, day trade
, etc.
What makes sense for them? Is there any vehicle out there that enables a parent to set aside funding for their children's future? Something like a 509, without the requirement that it must be spent on education, and still provides tax benefits/growth?
Thx, Keith XD
(@Mods: not really sure where to put this. It falls under investment goals, retirement planning, and the like, and there's no sub-forum for these)
They don't want to do a 509 education fund (which MUST be used for education) because they want to give each kid the option to do something else: own a business, buy property and manage, day trade
, etc.What makes sense for them? Is there any vehicle out there that enables a parent to set aside funding for their children's future? Something like a 509, without the requirement that it must be spent on education, and still provides tax benefits/growth?
Thx, Keith XD
(@Mods: not really sure where to put this. It falls under investment goals, retirement planning, and the like, and there's no sub-forum for these)