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The Gift That Keeps on Giving
Financial Gifts for the Future
By Shel Franco
offers a framed single share of these and many other stocks. With the company's "My First Stock" program, a child will receive a special mat logo, kid's investment book, stock tracking sheet and access to online investment games. The best part: Parents and grandparents always have the option of adding more stock as the years progress to help build up a portfolio. 
If you want to give a truly valuable gift, why not give the gift of a good education? Jeffrey Boyarsky, a financial advisor at AXA Advisors in Woodbridge, N.J., recommends a 529 college fund. "Once it's set up, anyone can make gifts," Boyarsky says. "The savings go in and grow tax deferred, and then they come out tax free to pay for college and college expenses."
Last Christmas, Warren opened a 529 plan for one of her grandchildren. She now makes monthly contributions. "Not only does this promote some sense of financial well-being, but it eliminates the need for other gifts," she says.
If you prefer to give the gift of cash, you might consider opening a custodial account. This way money isn't sitting around the house waiting to be spent, and your child can watch the interest grow. The best part is that money can always be deposited. Custodial accounts are set up and controlled by a parent or other appointed adult until the child reaches the designated age.
There are some considerations. For instance, if your child has a large nest egg built up by the time he's ready for college, he may have some difficulty receiving financial aid. There are also certain tax implications so it may be in your best interest to consult with a tax advisor prior to opening the account.
There are also many gifts that don't require much of an investment but still encourage a child to make an investment in her future. A book about saving money can help promote an interest that will last a lifetime. One Dollar: My First Book About Money (Barrons Juveniles, 1998) by Lynette Long teaches young children what 