Investments for grandkids with custodial control
I’ve considered a 529 acct for my grandkids but 2 of them for sure are home-schooled which makes me wonder if they will go to college. So I started investing them instead to I bonds but it’s a struggle as I am then forced to give their parents control of the account according to what I understand from treasurydirect.gov . Which I trust the parents but wish there was an iron-clad way of controlling the grandkids money for them.
Terry Says
You can purchase I-bonds in YOUR account, and put them in YOUR “gift box” using the child’s name and SS number. Just don’t distribute them out of the gift box until the child has reached he age of majority. And if the child is applying for financial aid, don’t distribute them until after graduation! They’ll keep earning interest.
