Make your Grandchild a TAX-FREE Millionaire! :

If your teenaged child or grandchild is gainfully employed, they can contribute up to $4,000 a year to a Roth IRA. The contribution aren't tax deductible, but at the child's puny tax bracket it doesn't matter.
Let's say the child puts in $4,000 a year between the ages of 16 and 21, and then doesn't contribute another dime. If the Roth IRA earns 10% per year, the child will have $2,045,042 at age 65.
And the money will be 100% tax free!!!!

(Bottom Line Personal)