Early Graduation Gift
Get an envelope, write your child's name and "Do Not Open Until Graduation."
Each year at a specific time (birthday, holiday, specific date) write a letter to your child, telling them about the past year in their life, how much you love them, and any other important stuff.
Add a set amount of $$ to the yearly envelope. Because Lizzie has a May birthday she will be 18 when she graduates.
On the 17 or 18 days leading up to graduation give your child one letter a day. I'm adding $25 to each envelope...which means that by the time Lizzie opens her 18th envelope on graduation day she will have received $450 total for graduation. Not bad if I say so myself.
This would be a great grandparent idea too, and I'll probably add some other little keepsakes each year as well. This year I'm also adding a picture and a card from her doctor listing her 4 month height/weight which might be fun to look at.