My oldest grand daughter just turned 18 and I turned her UTMA (Uniform Transfer to Minors Account) over to her. I established this account when she was born and have steadily dribbled money into it.

My son-in-law, who is a certified genius, went through his daughter's portfolio and told me, "You beat the indexes for 10 years running! If you were a professional financial adviser, you would be in the top 1%!"

My advice is go with mutual funds. Invest steadily, a little each month. If you want to know where to invest, take a good look at Fidelity Select Biotechnology Portfolio (FBIOX). Over the last 10 years, this fund has averaged 21.21%. In other words, your money would have doubled every 3 1/2 years.