Parent Hack: Fabric’s Offering $25 in 25 minutes To Open An Investment Account Specifically Designed For Your Kid

Editor’s note: Act fast! This deal is only live until the end of the month… and the sooner you claim this free money, the sooner it can start growing 👀

Here’s the deal: if you open up a UGMA account in 25 minutes (or less – yep it’s pretty simple), Fabric will give you $25.

If you’ve never heard of a UGMA account (Uniform Gifts to Minors Act), it’s an investment account that parents can open on behalf of their children, and contribute to it until the child reaches adulthood (18 or 21, depending on the state).¹ 

When your kids are young, parents can make penalty-free withdrawals to use the money for anything that directly benefits your child². Once your kids reach adulthood, the account transfers to the child who can use the money without any restrictions. Think of it as a springboard to take risks (or play it safe if that’s what you prefer)³. 

UGMAs are a bit more flexible than 529s, which are primarily used for education, and they’re easier to set up than a trust. UGMAs cover “anything that directly benefits the minor,” into adulthood, translating to:

• Sports equipment
• First car
• Art supplies or classes
• College tuition and textbooks
• Weddings
• Baby expenses

Don’t take our word for it though – Fabric has some great resources on how beneficial these accounts can be for securing your child’s financial freedom. We have a good feeling once you look more into it, this $25 for 25 minutes deal will be the easiest no-brainer decision you’ve made in a looooong time.

*Terms and conditions apply. Visit https://hello.meetfabric.com/ugma-countdown-promo for more details.

1. Fabric by Gerbe Life and its affiliates do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisory before engaging in any transaction. ↩︎
2. To see full disclosure, visit meetfabric.com/legal ↩︎
3. This is a paid endorsement for Fabric by Gerber Life’s UGMA (Uniform Gift For Minors Act) Offering and not a paid endorsement for advisory services.”Fabric by Gerber Life is a brand of Western & Southern Financial Group, Inc. Western & Southern Financial Group, Inc. is the parent company of Fort Washington Investment Advisors, Inc.Investment advisory services tied to the Fabric by Gerber Life platform are provided by Fort Washington Investment Advisors, Inc., an SEC registered investment adviser. Registration as an investment advisor does not imply any level of skill or training. Custody, brokerage, and clearing services are provided by Apex Clearing Corporation, a registered broker-dealer and member FINRA/SIPC. As a member of the Securities Investor Protection Corporation (“SIPC”), funds are available to meet customer claims up to $500,000, including a maximum of $250,000 for cash claims. For additional information regarding SIPC coverage, including a brochure, contact SIPC at (202) 371‐8300 or visit www.sipc.org. Please consider your objectives before opening an investment account. Investments in securities involve the risk of loss. A diversified portfolio does not ensure a profit or protect against a loss. ↩︎