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I had a son 8 months ago and we opened a savings account for him that already has a few thousand in it from various family members, and I have set up an auto transfer of $50/month into it from my account.

I am now thinking it may be better to create a mutual fund or even a Roth IRA for him instead, but I'm not a very smart man and don't even really know what a Roth IRA is. Does anyone have any suggestions on how I could safely invest money for his future?

Edit: While the linked duplicate and the UGMA answer are currently the way I'm leaning, I have no fear of stealing funds from my child so I'm not sure the proposed duplicate is quite a duplicate. (I'm not opposed to investment options that I can withdraw from, especially if they have a better return. I also would sort of like to be able to withhold the money until he is maybe 25-30, so options that allow for that are welcome as well.)

Unless your child has earned income an IRA or Roth IRA is not available.

You can use as 529 plan to save money. It has several advantages in that the money grows tax differed. Some states give you a state tax break on contributions. You have to check for your state.

It can be used for post-secondary education. Which means that it can be used for vocational schools in addition to colleges. If they aren't ready for college or vocational school at 18, it can stay in the account until they are ready, or it can be transferred for use to another relative.

The 2018 tax law changes allow 529 plans to be used for K-12 education also. Check with your state 529 website to understand the limitations.

If the money is pulled out for non-education purposes there are penalties at the federal level, and maybe at the state level.

Many 529 plans automatically move the investments to more conservative investments as the child ages. This is great for accounts where the years of use are known. Many will also allow you to pick the risk level. Each program is different.

The limitations of 529 accounts have been mentioned in comments, so think about an UGMA (Uniform Gifts to Minors Act) account.

https://www.investopedia.com/terms/u/ugma.asp

https://www.troweprice.com/personal-investing/products-and-services/non-retirement-accounts/ugmas-utmas.html

Up to $1,050 in earnings tax-free.

The next $1,050 is taxable at the child's tax rate.

Any earnings over $2,100 are taxed at the parent's rate.

The earning are dividends and interest, not capital gains, and you'd need a big account to earn $2,100 in dividends and interest.

Since the money isn't dedicated to college funds, there's more flexibility if your child decides not to go to college.

Of course, since it is your child's money, once they turn 18 (or 21, depending on the state) you must turn control over to them, and they can do whatever damned fool thing they want with it. So, train them well first!!