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Although you may have to look into child-labor laws in your state, If your son could somehow earn ~$400 worth of income (doing jobs around the house or something) during the calendar year, he could invest the $400 into a Roth IRA.

I remember seeing an article about a couple who on their child's 1st birthday somehow started a Roth IRA with $2,000 for their kid. Maybe their child was a model for infant clothing? I don't remember exactly where the kid's income came from, but anyway, they wanted to give their child a present that they would appreciate. (How many people out there remember what they got for their 1st birthday?)

Just my $0.02 worth.
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