Price: Typically $25 to $250 for the initial investment
Who it's for: Kids up to 18
What it's about: Move over, savings bonds: 529 accounts have the edge for grandparents eager to help pay Junior's college tuition. Advantages include tax-deferred growth on earnings, tax-free withdrawals and, in many states, a deduction for contributions. Compare plan details at savingforcollege.com.
Why it works: While kids may not get excited about this gift now, just wait a few years. When they owe thousands less in student loans than their college buddies do, you're sure to get plenty of appreciation.