Truman
Though work in the financial tinusdry, I'm not a fan of 529s either. Mostly because I see that parents typically start with 5K or less and then never add to it over time assuming they are financially able to do so. These plans are generally put into very safe investments and are expected to grow over a long period of time and at low, but steady pace. And, of course, that's the idea along with the tax advantages IF the child actually goes to college. Gifting is a great idea. By the time your son grows up, who knows what the gifting limit will be. It will be interesting to see if your plan works!
Truman Though work in the financial tinusdry, I'm not a fan of 529s either. Mostly because I see that parents typically start with 5K or less and then never add to it over time assuming they are financially able to do so. These plans are generally put into very safe investments and are expected to grow over a long period of time and at low, but steady pace. And, of course, that's the idea along with the tax advantages IF the child actually goes to college. Gifting is a great idea. By the time your son grows up, who knows what the gifting limit will be. It will be interesting to see if your plan works!