I want to open some kind of bank account, trust, or something along those lines for my kid. Ideally, I'd like to open some kind of account where relatives could put money in on birthdays, special occasions, etc. and the child would have access to it after a certain amount of time/at a certain age, and it would accrue interest. I don't know if that would be a regular savings account, or something different. My options seem to be a savings account, 529 plan (which could ONLY be used for college), or a trust. I'm also considering putting some money into bonds for my child, but that seems to be a whole different ballpark...if I buy U.S. Saving Bonds for my kid, it says they can be cashed after 12 months. Are they something that will increase in value for the next 18+ years? I'm a little skeptical of the 529 college saving plans, but I think that's something extended family would be able to put money into, and no one would be able to take money out except for college tuition, which is appealing. Does anyone have one of these? Can you explain how it works? I've read up about it on a few different college and government websites, but there are a lot of different options, and I haven't found any sites that explain how they work really well.