{ "media_type": "text", "post_content": "We are expecting a baby soon and would like to start financial planning for her. We thought it would be fun to have separate buckets for different life events like college, travel, car, wedding. Contd", "post_id": "6169318aa4a7c1002bd06fdb", "reply_count": 7, "vote_count": 1, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

We are expecting a baby soon and would like to start financial planning for her. We thought it would be fun to have separate buckets for different life events like college, travel, car, wedding. Contd

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529 is still beneficial down the road. If you’re looking to have the money actually invested I think you’ll need separate accounts. Otherwise Ally savings has a bucket system, but that money cannot be invested.

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I think the primary benefit of a 529 is the money grows and can be withdrawn tax-free. Not the contribution deductions.

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State tax breaks are not the primary reason to open 529s but you are not really interested in that

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Is there any way to do this through the brokerage accounts? Is there a way to create ‘buckets’ in one account or do we need to open multiple accounts? Has anyone done something similar to this? We have accounts in vanguard and fidelity. Note: not looking for a 529 as we live in a state with no income tax

I do it like that, but instead of having that dictate the investments, instead if I had 50k today maybe I’d say 15k into 529 and then 35k in brokerage low fee ETF. Then in my budget of the 35k(excel) I’d say - ok 20k of this is wedding, 10k of this is car, 5k is travel. Then, as you add to the ETF or it has gains and losses, keep shifting in your internal bucket in excel.

Don’t rely on using different funds as your organizing principle. It’s not fit for purpose.

Not aware of the bucketing, but your can do this informally yourself - like 70% for college, 10% for home, etc

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