I wanted to find out about saving for my son (for college, or a gap year after graduation, etc). I want to save for him, but I'm not sure if I just want to tie up the money in a savings plan "only" for education (529s). I want him to be able to use the money for a little bit of both school and personal. Does anyone have any suggestions (in laymans terms)? Or maybe any institutions (financial, i.e. Wells Fargo, Citi, Merril Lynch) you would refer? Maybe I should split what I save into two separate kinds of accounts?
Sometimes when I start reading about financing, I just feel like it's way over my head. Just need a little direction/suggestions. Thanks.