holiday gift-giving this is something that my husband and I argue about a lot
now Black Friday sales and Cyber Monday are right around the corner and it's
super easy to get caught in your holiday giving spirit and buy on sale thinking
you're saving money over while you may just be exhausting your bank account in
fact one of my friends Jade recently asked me this wonderful question about
holiday giving she asked since the holidays are coming and many of us are
buying gifts I'd love to learn more about gifts that are embossing oriented
and are financially beneficial for the recipient and she gave some examples
like College, certificates deposit what are the ones out there and which ones do you
recommend so I'm so glad that Jade brought this topic up and there is not a
better time to get into this before the whole shopping craze begins now if you
ask my husband he thinks that holidays should only be about consuming and
splurging and things that make you feel good he thinks it's against the holiday
spirit to look at gifts as an investment so we had a very heated argument about
this just the other day now I'm gonna show you my point of view and I'd love
to hear from you guys what do you think right now before I get started please
let me know go in the comments and let me know if you think we should not think
about investing during holiday shopping or if you think finance related gifts
can be a great way to give and a practical way to help your friends and
kids and family to begin building wealth so go ahead in the comments and let me
know now before I share with you my top 5
favorite financial gifts
I'm Kiana Danial founder of the Invest Diva movement where we help you to start
managing grow your online investment portfolio for your family to grow your
wealth and create a financial security for your future let's start today's
holiday giftgiving topic backwards from number five the number five top holiday
gift that I thought of is Treasury bonds and certificates of deposit for a very
long time T bonds and CDs have been a traditional gifts for newborns children
mainly because they're safe and they're basically a safe way to preserve capital
while growing your money and because the interest tends to be low and they can't
usually be redeemed for years or even decades they may not be the most
exciting gifts but if you're looking for a safe way to put money aside for a
child and you don't anticipate them to meet that need it for a long time then T
bonds and CDs may be the way to go now have you ever received a Treasury bond
as a gift a lot of people get them in fire mitzvahs or bat-mitzvah
so go ahead and let me know in the comment if you've ever received bonds
and what you thought of them as a gift number four is stocks so it gives those
stocks can be a great way to get a young person interested in personal finance
and you don't even need to spin a ton to spend a ton buying stocks just you know
you can just get them one or two shares in the company that they're personally
interested in or they're it's personally meaningful to them so that could be a
wonderful way to begin a conversation around investing and how the stock
market works now are you currently investing in the stock market go ahead
let me know in the comments I'd love to know so now how do you give a gift of
stocks most brokerage accounts will let you purchase shares for another person
but if you want to make it a little bit more festive
then there are companies such as give a share and stockpile that let you give
your stock in the form of gift cards or certificate I'll share the links to
these websites down in the description area my third top financial gift is
college savings plans now these include the 529 plans and the Coverdell accounts
both of these allow you to create a fund that lets your capital and interest be
withdrawn tax-free as long as the money is used for educational purposes so
these are special purposes include college grad school room and more to
study abroad and they even include k-12 private school tuition the biggest
difference between a 529 and a Coverdell is that 529 is typically invest your
money for you in funds that get more conservative as the recipient gets
closer to college age well the Coverdell allows you the
freedom to invest in whatever you want stocks bonds mutual funds and so on so
both are great ways to help a child save for college or graduate school and if
the child is old enough you can get them on board by showing them what you've
invested in and explaining why number two is Roth IRA we don't usually
think about setting up retirement plans for children but remember the miracle of
compound interest helping a young person get a 5 or 10 years head start on their
retirement savings could mean many thousands more dollars in their future
so the cash is that in order to qualify for a Roth IRA a child has to be earning
money of their own but paper routes and babysitting money counts just be sure
that you or your child are keeping careful track of how much they are
earning and and you can contribute up to the amount
of their earnings per year or $6,000 which ever is less so now Ross allow you
to invest in your choice of stocks bonds and mutual funds so again this can be a
great way to get older children involved by explaining how you chose your
allocations maybe even letting them pick a stock or two for the fund he's showing
them how much it can grow over time now I want to hear from you do you have a
Roth IRA all right yeah for it for yourself or for your children go ahead
and let me know in the comments tell me yes Kiana I already have Roth IRA or you
can say no counter what the hell is rafael right and I will make sure to
respond so this brings us to my number one top favorite financial gift and that
is financial education so instead of giving someone a fish per holiday you
can teach them how to fish and that comes with education financial education
has recently become a way that many banks and brokers like TD Ameritrade
attract new customers which is great but one thing that you want to keep in mind
is that these workers have an alternative motive and that is keeping
your money in their brokerage account so that you invest it in stuff that makes
sense to them so keep in mind that not all financial education is created equal
and when you're out there looking for financial education gifts make sure to
look for stuff that are unbiased so that's literally why I found an invest
about seven years ago I used to work at a brokerage firm on Wall Street and
that's where I learned that many of these brokers make money when the
traders and the investors lose so they basically go ahead and take the opposite
side of their trade so that's why a lot of our education was tinted and kind of
pushed the traders to lose money and now not all brokers are the same and the SEC
are after these brokers to find them whatever they
and but you wanna be careful now when I hear from you have you ever invested
time or money in financial education have you ever spoken to the financial
advisor and what was your experience like go ahead and let me know in the
comments I also love to know what your holiday giving plans are do you think
these are way calculated to be considered as gifts will your kids yell
at you if you get them hippies or do you think you can explain to them why you
got them these and how these gifts are going to give them the ability to buy a
ton more gifts of their own choice in the future I'd really love to hear what
you think of this if not for the sake of myself I really want to show it to my
husband as well so you're showing up what's the way thank you so much you
guys for tuning in if you like this video give it a thumbs up and subscribe
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on the Invest Diva movement, I also have a very special gift of an investment
education link for you in the description areas where you can access
my make your money work for you master class for free so go ahead and take
advantage of it and remember that Invest Divas know how to share the wealth