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I am also researching how to start saving for my 1 year old son. Based on my research it appears that the Coverdell account appears to be the best bet for my situation. $2000 per year for 18 years at 10% return yields about $90k, assuming 5% inflation that comes to around $40k in todays dollars. Not bad. Wish I had $40k in the bank when I went to college.

California 529 plan looks pretty lousy, and I prefer to pick my own stocks. However, I can move the Coverdell money to a 529 when my son is 17 to control the funds, if needed.

-already max 2 Roths and one 401k

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