I recently received a gift that made me think not only "Thank you" but also "What a great gift idea!" After digging around in their safety deposit box, my parents found a 10-year US savings bond some distant relative had bought in my name shortly after I was born. Now, fourteen years past maturity, I cashed the bond for more than three times its face value.

What a great idea! For kids of your friends or relatives, buy a savings bond, with the intention of giving it to them long past maturity (perhaps giving in trust to the parents). The kid will definitely appreciate the surprise, and it won't cost you much... just patience.

Another idea, inspired by my parents: shortly after I was born they bought six bottles of port bottled that year. These were then presented to me as a 21st birthday present. Lemme tell ya... that's some really good stuff! Dynedain can vouch for that much.

Does anyone have any other ideas? Gifts that require not much effort, but great foresight and/or prior planning?

mmmmmmmmmm........port.......

I've heard of people saving coins every year from the child's birth and all subsequent birthdays. Then when the kid reaches x years old the coins are given to them. That way they have a "set" of coins for each year of their life.

I wish someone did that for me so I could have coins from 1968,69,70...03.

You could also buy famous newspapers the day they were born, store them, and give them to the child at a noteworthy birthday (21st,30, etc.).

I have several bottles of wine from when I was born that my relatives bought. I enjoyed drinking one at my 21st birthday and will still have a couple more for other occasions.

Condoms make a great gift.

But usually only *before* the child is born, I guess.

In Response to zamphir (#7899):

Also work better before the child is even conceived... physically or intellectually.

As soon as I get my act together I intend on setting up a 529 college savings plan for my one year old nephew. This is an investment vehicle with all sorts of tax advantages, one of which is me being able to deduct my contributions from my income tax.
It is invested in the stock market via mutual funds and is well diversified. With 17+ years to grow I anticipate a good return even if I am unable to contribute large amounts on his birthday every year.
An advantage of the 529 over a custodial account: as the owner of the account, I can redirect the funds to another family member if my nephew decides not to enroll in college. This is much more restrictive than a custodial account, but I don't think 18 year olds are always the best judges of what to do with a lump sum of money.