If your goal is the save for education a 529 is a good choice for tax free growth.

Your returns are based on your investment strategy, but the earnings would be tax free. Assuming modest growth of 4% per year what you put in today would be worth 22% more in five years.

Should you be saving solely for your sibling’s education depends on your personal financial strategy. There are plenty of guides online on how to prioritize your dollars. I like money guys financial order of operations.

Why it’s dangerous: Phishing: Hackers could use the info to send fake but convincing messages to users. Session hijacking: If attackers can intercept or replay 2FA codes, they might bypass login protection.

You’re more likely to get flagged for AML/KYC by your financial institution. Which usually just results in a phone call.

There’s no trick or window to getting around IRS reporting. If it was a taxable event it’ll get reported to the IRS.