<prompt> Human: Hey folks!Like the title says, I am trying to make a solid decision on how to hang on to the RMDs from my sons inherited IRA for him. My initial thought was some kind of college savings program like a 529. I am hesitant to do that though because the kid is only 3...I have no idea what the post K-12 landscape is going to look like in the next 15 years and this feels like boxing myself into only one option with the money.My next thought is to open a separate brokerage account and dump everything into an index fund. Im just curious if Im being stupid by not taking advantage of some kind of tax sheltered account. Does anyone have any input on investing for a young child?Assistant: Definitely a college fund. Never to early to start. Friends of mine are planning to have a kid in a year or two and already have started saving for collegeHuman: What if in the next 15 years college becomes free?Assistant: Check the rules, the last time I looked at 529s michigan they are revokable and you can get the initial investment out penalty free. Only have to pay taxes penalties on the interest. some states give a tax deduction for investing in them too. Human: I need to investigate this. Im not sure exactly what the penalty is in Texas for bailing out of a 529.Assistant: I found it in the FAQ area, it was an easy google. Human: Sure, it was easy enough to find. I knew there was a penalty but couldnt remember what it was. Having that penalty makes investing in a 529 seem kind of risky which is why I am hesitant to do that. How do I know my kid is going to want to go to a traditional college?  <response>: 529s can also be used for postsecondary training such as technical college 