My toddler's net worth

In the spirit of Financial Baby Steps and Jack's Cash, I present an overview of my son's finances. He is two years old.

$1900 --529 Pre-paid tuition plan
$3177 --529 Investment account (in various target-date funds)
$32 --ING Direct
$3113 --2 UGMA accounts, both gifts (in 2 mutual funds)

Total: $ 8222

Here's how he got so loaded:

* 529s. When he was about a year old, we finally got around to setting up a 529 account for him. We figured we'd take $3K from our cash savings and put it away for him, because we knew we didn't have enough income to contribute large sums ongoing. We put half in an investment plan and half in a prepaid tuition plan (I have since regretted the latter). Ever since, we've been contributing $25 monthly to the prepaid plan to avoid an annual fee. We can avoid an annual fee on the investment plan if we have a monthly autodeposit in place when the fees are assessed in December, so we've been contributing $50/month just for Nov, Dec and Jan every year. I just opened a third 529 for him at Fidelity because of their cool MBNA card with 2% cash back, and to avoid a fee on that account we've started contributing $50/month. So currently we're saving $75/month for his college education. Plus we've been adding in birthday money from other relatives, and we've earned a little bit through Upromise.

* UGMAs. This money fell out of the sky. One account came from a high school friend of mine who surprised us all in college by revealing that she was a trust fund baby. She gave L $500 in Davis NY Venture shares when he was born. The other UGMA came from my grandmother, who opens Royce accounts for all her great-grandkids the second they have a SSN. The minimum balance on a Royce account is 2K, so that's what she starts kids off with. She puts in $100 every year for their birthday. When she ceases to contribute to the account, I'll probably roll both his UGMAs into a college account for him.

* ING account. Mama wanted the $10 sign-up bonus for referring little L. He got $25. Maybe someday he'll thank me.