<prompt> Human: I want to give a financial gift for my baby niece but not sure what options i have. I dont want to screw anyone over in terms of having someone pay taxes on an investment but was wonder what my options are. I want her to have a nest egg or something that will slowly build that she can use for college or something. AKA best uncle present. I have about 20k in savings. not sure how much i am would need to spend to make it a worth while present in the future for my baby niece.  <response>: Look at doing an Education Savings Account or a 529 plan if the idea is for college. Those are tax advantaged accounts you can use to save for college. 