Sharing your passion for collecting. Exclusive works of art and gifts. Visit The Franklin Mint. The benefits are substantial.
Money grows tax-deferred.
When it's withdrawn, it's taxed at the child's rate. Some states even give you a tax deduction for money you put in. If the child opts not to go to school, a sibling can use the money. You have little or no say in how your money is invested. Some plans are criticized for not being aggressive enough.