Should I Open a UTMA Account for My Child?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 19 November 2025

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	This episode is brought to you by SmartVestor.
0:07.9	Connect with an investing pro near you at ramsysolutions.com slash smartvester.
0:13.9	Emily is up next in Atlanta, Georgia.
0:16.3	What's going on, Emily?
0:18.9	Uh-oh, your phone's all busted, Emily.
0:20.9	Can we hear you?
0:22.1	I can hear you.
0:23.1	There we hear me?
0:23.8	Yeah, we're good now.
0:24.7	I'm so sorry.
0:25.9	Thank you so much for taking my call.
0:27.5	Sure.
0:28.0	What's your question?
0:29.5	I have a four-month-old son that we have started a 529 phone for, but I was speaking with
0:37.0	my financial advisor a little bit ago and she recommended
0:40.2	a UTMA or UGMA account. I was just wondering what your thoughts were on possibly putting
0:48.4	some money in a UTMA account like to pay for maybe like their first car or something like that, or if I just
0:56.9	should put all that money towards Part 29.
0:59.5	Awesome question.
1:00.3	How old are the kids?
1:02.0	I just have a four-month-old son.
1:04.2	Oh, sweet.
	...

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