When I was just born my grandpa/mom/dad gave me $12K - at 18 I took the money out, and it had grown to around $35K...I used that money to invest in a company (family business)
4 years ago, and I get a % of the profits every month. It could have been used to pay for school, but I didn't want to go that route.
Interest is a wonderful thing
I see more and more posts about children around here. So do your kid a big favor and put as much cash as you can into savings when they young.
Interest works absolute wonders if you give it enough time. This money will give your kid a good start on life.
I'm not really 100% sure why I'm sharing this.
Maybe I just want to see some kids hit 18-19 and have some options.
This is good stuff, do it.