I'm looking to start putting some money away for my nephew. His first birthday is this weekend, and I thought this would be better than a new toy to throw on the pile.
Are there options out there that are better for the long term? I'm thinking it will sit until he is 16-18 or so. I'd probably put in a hundred or two a year, unless somebody else in my family starts having kids. I don't have any kids myself.
How would you folks go about something like this?
Google "Education Savings Account". Here is a tutorial site.