<prompt> Human: I am exploring options to invest for my child of 1 year. 529 is for college. But are there any investment options which I can start and my child can continue when she starts earning so that together we can take huge benefits of compounding miracle? Something like a mutual fund or index fund or what else can be recommended ? Horizon is definitely 40 years plus of just putting money in. Any one did anything like this ?  <response>: No. Either save for college or save for retirement. No way I am putting money away for a child that at some point I lose control of what happens with the money. Plus if you have stocksETFs in you name when you die the child inherent it with a step up in price 