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I’d take the $1k even though I hate the man. Throw it into a 529 account if you can. That’s the only reason I graduated without debt and they changed the rules a few years ago so I can move the money into a Roth if I want. Your child can also decide to pull out the money if they choose not to go to college and don’t want to put it into a Roth you just pay a penalty and taxes on it. I still have like 20k left over (I went to the cheapest school I could). I keep it in bonds for now so I can pull it out later for a downpayment on a home without worrying too much about a market crash impacting my account. I think I got 2k in growth in 2025.
.....how is this any better than a 529? Quick Google search says the only real difference is $1,000 to jumpstart, but withdrawals are taxed and less flexible. I'm sticking with the 529s I have for my two kids until I see some proof that this is better.
I don’t know that it’s a “good” or “bad” investment—I’d say it’s more neutral. Like the person above said, it seems similar to a 529 but with less flexibility. I’m not sure I would invest in it personally.