What to get the youngsters for Christmas this year...
Good morning all, and Happy Monday (to the greatest extent possible!). Only three days this week...
Holidays approaching.Sometimes one wonders what to get a loved one for the holidays. I have two children (now both recent college grads and engineering professionals). Their birthdays are only a few days apart. A couple years ago for the birthdays, my wife and I set up a Roth IRA for each of them, and tossed in some shares of TMDI. Last year, we added more shares for them. Not sure what to get your kids, or maybe nieces and nephews, for Christmas? Why not set them up with a Roth? Aside from the potential growth of TMDI as an investment, it sets them on a path of recognizing the importance of saving for retirement at an early age. When they get jobs, they might have a better understanding of the value of the 401K with matching funds, as well as balancing current financial needs with their own future needs. It gives them a stake in the future NOW; they can watch it grow, and add to it whenever they want.
Maybe they are wondering what they will want to do when they grow up. As a young Titan investor, they will likely at least want to know a little about their investment. Maybe it will drive them toward a career in medicine, or engineering, or sales and marketing for high tech devices. Nothing like a vested interest in a technology to get the gears turning in as young mind!
Everyone here knows the value of time for investments and we all wish we started younger than we did. With holiday travel violating current COVID recommendations, the money saved on airfare could easily fund this started retirement account. And if things go as they should, a few hundred dollars today could be a few thousand in a surprisingly short period of time.
Just something to think about when wondering what to do for the family when holiday travel is not recommended.