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Another year, another holiday sneak attack. Christmas is creeping up on you again with only 19 shopping days left. Dad has enough golf shirts and the kids are already tired of asking Alexa, Siri and Google silly questions.
Need ideas?
Instead of another gadget that will be outdated by this time next year, consider these timeless financial faves.
Give The Gift of Compounding. If the youth in your life are earning a paycheck, then they’re eligible to contribute to a Roth IRA. The likelihood of them doing this on their own is probably close to that of a democracy in North Korea. So, be the superhero mom or auntie and make a contribution on their behalf.
Deck The Dorm Halls. Get started growing tax-free savings for college expenses by opening a 529 Plan. Tell everyone you know (better yet, keep it to those that actually like your kids), that little Henry could use a token toy to open and a check for his future. Consider it your friends and family college discount!
Stuff Their Stocking. Put the “stock” in stocking…literally. Make someone a part owner in a company that they love. Physical shares of stock can be purchased online through websites such as giveashare.com. If they don’t have what you’re looking for, consider buying (or giving your own shares) through your brokerage firm.
Related: Making Charitable Giving a Family Affair
Be Santa Cause. Ask your loved ones how they would best like to make a difference in the world and make a donation to a charity in their name. AmazonSmile has made it easier than ever by providing the option to donate a portion of qualified purchases to a charity (or charities) of your choice, with the same conveniences as AmazonPrime. Need ideas? Browse charities through independent vetting websites like GuideStar or GiveWell.
Making $ense of Record Date
A date set by corporations or mutual funds for dividends or distributions purposes. Investors must be shareholders on the record date to be entitled to receive the dividend or distribution.