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A 529 account is generally designed for educational expenses and, in certain circumstances, can be used to jumpstart retirement saving. In contrast, a UGMA account allows funds to be used for anything that directly benefits the minor. When they reach the age of majority (18-21, depending on your state), UGMA funds can be used for a wider range of purposes, such as buying a car or starting a business. 

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<b>Want to learn more? Check out these articles on other common questions:</b>

<a href="https://help.meetfabric.com/en/articles/9939153-what-can-a-kid-s-investment-account-do-for-my-child">What can a kids investment account do for my child?</a>

<a href="https://help.meetfabric.com/en/articles/9939317-how-does-a-kid-s-investment-account-grow">How does a kids investment account grow?</a>

<a href="https://help.meetfabric.com/en/articles/9939200-how-does-a-kid-s-investment-account-compare-to-a-529-plan">How does a kids investment account compare to a 529 plan?</a>

<a href="https://help.meetfabric.com/en/articles/9939522-can-i-use-money-in-my-kid-s-investment-account-before-my-child-turns-18">Can I use money in my kids investment account before my child turns 18?</a>

<a href="https://help.meetfabric.com/en/articles/8639724-what-info-do-i-need-to-open-a-kid-s-investment-account">What info do I need to open a kids investment account?</a>

What's the difference between a UGMA kids investment account and a 529 plan?

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