A gift to my kids who aren't born yet
Long time lurker, first time poster to this financial forum.
I am getting married in June. We plan to have kids 2-3 years from now. My fiancee and I agreed to set up accounts for our kids the day they are born to give them when they get married or when they graduate college. These accounts are not to pay for their weddings or costs associated college. They are just going to be there for them to help them start their lives.
So let's say we place $5000 in an account when the baby is born. Should I put it under the baby's SSN#? What would be most advantageous for a 21-22 year account gaining interest?