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Trying to figure out a good investment vehicle for college savings account

yjeezle

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I'm looking for an investment vehicle for my mentor who's done a lot for me for my career so far. I figure the best thing I can do is try to pay him back at least a little bit by setting up some sort of college fund for his kids (they'll be in college about 7 - 10 years from now).

I'm not looking to pay for all of their college tuition or anything like that, but I'd like to be able to have some cash appreciate a little bit and hopefully be able to give it back.

The thing is I don't want him to know about it and I want to kinda just hand it over to him later on (either when I leave my company or when the fund matures, whichever is sooner). I'm also planning on just dumping an initial amount into the (less than a grand) account and just let it accrue interest until the time is right.

I was wondering if anyone had any ideas?
 

stevent

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I'm looking for an investment vehicle for my mentor who's done a lot for me for my career so far. I figure the best thing I can do is try to pay him back at least a little bit by setting up some sort of college fund for his kids (they'll be in college about 7 - 10 years from now).
I'm not looking to pay for all of their college tuition or anything like that, but I'd like to be able to have some cash appreciate a little bit and hopefully be able to give it back.
The thing is I don't want him to know about it and I want to kinda just hand it over to him later on (either when I leave my company or when the fund matures, whichever is sooner). I'm also planning on just dumping an initial amount into the (less than a grand) account and just let it accrue interest until the time is right.
I was wondering if anyone had any ideas?

Most of the big companies like Schwab and Fidelity should have a basic option that works pretty well
 

CYstyle

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as stevent said, ask the guys there about 529k or cesa accounts
 

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