I have a UTMA account with $60k sitting in it for my son and I’m worried that 18 years old is too young to have access to that much cash
Key takeaways
- UTMA and UGMA accounts transfer to the child when they are 18 or 21 years old, depending on the state.
- Below are several strategies worth considering, though it is always wise to speak with a financial advisor for guidance specific to your situation.
- Your child will eventually have access to a significant sum of money.
I have a UTMA account with $60k sitting in it for my son and I’m worried that 18 years old is too young to have access to that much cash Marc Guberti Wed, July 1, 2026 at 5:01 PM GMT+7 5 min read Saving money for your child's future is a noble goal for any parent, but the time eventually comes when money switches hands. UTMA and UGMA accounts transfer to the child when they are 18 or 21 years old, depending on the state.
A Redditor has been educating their child about money while contributing to a UTMA account now valued at $60,000. While the child has a great start, the parent is worried about handing over that much money so early. The individual wrote a post about it and shared it with the fatFIRE community.
Below are several strategies worth considering, though it is always wise to speak with a financial advisor for guidance specific to your situation.