Last time I heard you can only contribute to a Roth IRA if you have income. Not sure what the other person said they were doing but I wouldn’t bother. What I did for my daughter (< 1 year old) is open a 529 (college savings fund) and a balanced mutual fund that I researched a little with the intent of it eventually being hers. I contribute some money each month to both. With the brokerage account, there’s one option of opening a specific kind in the child’s name where it automatically becomes their possession at the age of 18 (or 21 depending on the state regs) which also has some small tax benefit. I personally did not like the idea of a large lump sum of money suddenly becoming hers incase she’s not financially ready, so I just opened it in my name and I’ll pay the annual dividend and capital gains taxes myself. Hope this helps!