<prompt> Human: I would like to invest in my niece and nephews future by starting a some sort of account but have no idea of what my better options are. They are 6 and 8 about. I am not sure I want them to know I have the accounts for them and I also would like to set some kind of parameters. What are my options?  <response>: If you would like it to be used for their education, open a 529 plan accounts for each. You remain the holder of the account and retain the right to set and change investments in the account and even change beneficiaries, if the need arises. The money grows and can be used tax free to help pay for their qualified education expenses. You can but dont have to tell them about the accounts until they are ready to use it. You probably will have to tell your sibling their parent because youll probably need their SSNs to open the accounts.500yr that will grow tax free over the next 10-12 years is such a great gift. 