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If you really mean that you want to use the 40-50 years of compounding leverage then consider opening a RIC-E trust for them - see

I did this for each of my grandchildren adjusting the initial amount (with their current age) so that they each get the same amount (about a million) at age 60.

The problem with most other investment vehicles is that they can gain access to the money (sometimes with a penalty - but what does an 18 year old who wanys a car care about a penalty).

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