Don’t do it, flu. An IRA opened for a kid will likely be separate property in marriage IF the kid doesn’t withdraw any or all of it early and “commingle” it but your kid is still young and a lot of things could happen to YOU between now and the time your kid applies for college.
Just being pragmatic here.
Who knows? You might have a lower income for the FAFSA by the time you decide to fill one out. If your kid turns out NOT to be Ivy/Elite material, you may want to fill out the FAFSA for her to see if any aid is available for her for a state school. You won’t have to report all your “locked-up holdings” on a FAFSA as you would other forms for an elite private school.
