What is the best way to put money away for my nieces and nephew?

I've been buying Seires EE savings bonds twice a year for each of them and will continue till there 18yrs old. But the last bond won't be mature till there 28yrs old and I want that money to be available to them when they reach 18 or 21yr old. Also I would like the money to be used for what ever they want not just education. I would like to maintaine control of the money till I feel they are mature enough to use it wisely.

What is the best way to put money away for my nieces and nephew?
Put the money in a high interest savings account. You will have complete control over the money and there are no fees or minimums.





ING Direct is offering 4.50% for savings and they have excellent customer service.
Reply:college plans (529) are your better options but bonds eh not bad
Reply:You can establish a trust fund for each, which could be transferred either when you think they're old enough, or at a maximum age 25, for example. Seems costly, unless you want to give them quite a large sum.





Otherwise, assuming your own health is good, you could simply wait until you believe they've reached maturity and begin gifting them annually at whatever rate you wish.