<prompt> Human: We just opened a savings account through our bank, but we were wondering what else we can do to invest in his future. Thanks for any suggestions!  <response>: Are you already maxing out all of your tax-deferred accounts? 401k, IRA, and HSA?If not, you should do that to maximize your tax savings. You can always withdraw excess money from these accounts in retirement and gift it to your son. The best gift you can give him is to have enough money to take care of yourself in retirement so that he doesnt have to take care of you. 