General Discussion

accounts. Thinking that one's child can liquidate this account at age 18 to pay for college is laughable. Further, providing identifying info such as full name, dob, and the child's SS number (yes parents can obtain SS numbers for their children at the time of birth) will have to be provided upon opening an account, giving this regime -- including Musk and Thiel, the means to track -- forever -- these children citizens. The regime is already getting this info on parents thru voting, medical records, loan applications, etc. Additionally, investment accounts such as IRAs, are virtually impossible to close but closure comes with a hefty tax penalty. These IRAs don't allow closure at age 18 to pay for college, etc. These IRAs merely transfer ownership from the parents to the 18 yo.

Still think you have privacy???

Regular deposits by parents into a POD account at an FDIC institution is a better investment because it can be accessed without penalty.