<prompt> Human: The goal is to have a relatively safe, yet productive, savings account that will be his when he turns 1821. I dont want to specify the funds for college. Thats why I want to avoid the 529. Ive been reading up on a few different plans and someone at my credit union mentioned an Oppenheimer Fund, but finances are very confusing to me. Also, hes 1 and plan on putting 200-300month. Thanks!  <response>: Oppenheimer Funds are a brokerage company, with fairly high fees. Not what youre looking for.As others have mentioned, if youre not going to do a 529, keep the money in your name until you are ready to give it to him. If you want to target 1821 and mitigate the risk, you could pick a target date fund for that year about 2035. Vanguards VTTHX is an example. That will use a fairly aggressive allocation now, but shift to less volatile bonds as the date approaches, so youre getting a good balance of risk and reward relatively safe, yet productive.When you want to give it to him, you can simply transfer the money possibly after hes done with college to avoid FAFSA issues. Gift tax is only a minor issue about 14kyear 28k if your spouse is also gifting, and even then it only counts against your lifetime exemption until youve given more than 5.43 million, so its just a matter of recordkeeping, not actually paying any tax. 