10 Smart Holiday Gift Ideas for the Money Minded!
December 8, 2015
Unwrap lots of joy, love, peace and laughter this Holiday Season with our handy gift giving guide.
Gifts that grow:
Piggy banks — We cherish our childhood memories of putting money into a piggy bank. For the little tyke investor, choose a bank that’s transparent so they can watch their money grow. It’s a great visual tool for a very young child because it shows them that the money literally gets closer and closer to the top of the pig.
Coin sorters — Even though they’re built to save you time and make coin rolling easy, kids love sorters because they’re fun! They can also teach coin denominations and counting to the younger children.
Early investors — Teens are ready learners and buying stocks of solid companies that they are familiar with can show them the ups and downs of how the market works. Use an UGMA or UTMA account to buy one of their favorite companies such as Walt Disney, Hershey or Mattel.
Millennial investors — Invest in a Roth IRA for millennials who need to start focusing on funding a retirement account. Go with them to meet with your Financial Advisor to show them the process of buying shares of stock in a company. Investing in Apple or Sony can add excitement to their new investment account.
Energy Auditing — Give this energy monitoring device to help reduce monthly bills in the home. Power cost monitors track and show you how much electricity you are using and it understands what your appliances are using. This is a great gift for both homeowners and children leaving the nest.
Gifts that change lives:
Charitable donations from an IRA — For grandparents and other folks near retirement age, Qualified Charitable Distribution (QCD) can be a very good gift to help with tax savings. Individuals age 70½ or over could exclude up to $100,000 from gross income for donations paid directly to a qualified charity from their IRA. The benefit to the taxpayer is the amount donated to charity through the IRA distribution is not included in his or her gross income. If you haven’t taken your RMD yet and want to donate it to charity rather than taking it as a taxable withdrawal, you still have time before year-end.
Donating and lending — When you give a Kiva Card, you give someone else the chance to make a loan to a borrower who inspires them. When that loan is repaid, they can lend those funds again and again to make an even bigger difference. Kiva Cards are especially rewarding gifts that can teach pre-teens about corporate spending and investments.
Gifts that protect:
Home safe — A home safe could be a relatively inexpensive gift item that helps your loved ones Safeguard hard-to-replace items such as family photos, birth certificates, passports, and tax records while keeping them close at hand.
Paper shredder — Help family and friends stay safe with a shredder that handles more than paper. Check out the best bang for your buck at Amazon. It will get the job done, and it does well regardless of whether you are shredding multiple sheets of paper, credit cards, or compact discs.
Identity theft — Identity theft affects people of all ages and millions of people each year. It’s easier to protect your loved one from identity theft now than recover from it later. Give a subscription for a credit monitoring service like Identity Guard.
If you need any help securing finance-related gifts this season, please feel free to contact us. We’re wishing you a warm and safe holiday season.
—Everyone at 4Wealth® Financial Group
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