Gift for baby

[basil]

I just found out that my cousin delivered a healthy baby boy!

I''ve knitted him a little cardigan sweater as a gift, but I also wanted to give him a monetary gift as a contribution towards his future education. But I''m stumped as to the best way to do this. I was given stocks when I was born, which later turned into the downpayment on my first home, so I''m excited to be able to give him something that he will appreciate far in the future.

I could just write a check to the parents, but I''m afraid that it will end up getting unintentionally used on diapers and such. But I don''t have much to spare these days...budget maybe $100-150.

Savings bond? Investment? Other? Ideally, I''d like something that I could contribute to for birthdays and such, but I don''t want my name on the account or anything. I don''t know if that''s possible though.

 

[Tacori E-ring]

I think a bond would be great! You could do a 529 account but your name would be linked to it.

 

[basil]

Oh dear. I looked at the US Savings Bond website (savingsbond.gov). I''m normally no dummy, but I am so confused!

Has anyone ever purchased one of these before? How do you go about doing it?

 

[pinkstars]

If your bank has bonds that you can purchase there, you can fill out the form use any SSN for the form and make the bond out to the child, and then you can also have a beneficiary or co-owner.

I think bonds are great, but they don''t have the best interest. And it seems that it takes a good 11-13 years for EE bonds to reach the full maturity amount. It is really impressive when someone is able to keep bonds for over 20 or 25 years, after that time there really seems to be a decent amount of interest accrued.

 

[vespergirl]

That sweater you knitted sounds just darling! That is the sweetest gift!

Some of our friends gave our son savings bonds when he was born - it''s a great gift, but I have no idea how to go about purchasing one ...

 

[Blair138]

Date: 3/16/2009 9:57:00 PM
Author: pinkstars
If your bank has bonds that you can purchase there, you can fill out the form use any SSN for the form and make the bond out to the child, and then you can also have a beneficiary or co-owner.


I think bonds are great, but they don''t have the best interest. And it seems that it takes a good 11-13 years for EE bonds to reach the full maturity amount. It is really impressive when someone is able to keep bonds for over 20 or 25 years, after that time there really seems to be a decent amount of interest accrued.

I second EE bonds. I had a TON from when I was a baby and toddler and remember being bummed when I would get them as gifts when I was old enough to know what they were, but it was SO NICE to be able to cash them in when I was going to college!!!

 

[DivaDiamond007]

Thritto on the bonds. We got some from family memebers for our son when he was born and my sister and I had some as well growing up. It is true that it takes quite a while for them to mature, but totally worth it in the end. The knitted sweater is a great gift too.