Mature Life Features

Cecil Scaglione, Editor

Giving for Christmas Means More Than Toys

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The Star of Bethlehem has been eclipsed by Santa’s sled burgeoning with expensive toys for all ages. The Three Wise Men have been shunted aside by Rudolph the Red Nosed Reindeer.

The Christmas spirit of giving has given way to “gimme.”

This is not a rail about how things were better “back then.” But it is an opportunity to discuss blending sound financial decisions with the true spirit of giving.

Grandparents do their grandchildren no favors by tumbling mountains of gifts and gadgets on them year after year. To truly give a gift that’s worthwhile, divert the amount of money spent on all that loot into long-term bonds that mature as the youngsters head for college, or in government savings bonds that can be cashed as needed, or into trust funds to help them get over the financial humps that coincide with raising a young family of their own.

Think about it. You just spent hundreds of dollars on the latest hi-tech gadget or on a set of wheels – skateboard, inline skates, bicycle or auto – or on several humongous wooly monsters. Much of all that won’t be around in a couple or three years. And the kid probably won’t even remember what you contributed to the pile of goodies he comes to expect annually.

However, if you funnel that money into a bank account or investment that is the child’s, you not only help secure his or her future, you build a separate memory all for yourself.

It also gives you an opportunity to help teach the youngster about the importance of investing as both of you watch the money grow over the years. And it fits into the traditional spirit of Christmas that calls for loving the present (not presents), looking forward to the future, and preserving the past.

Written by Cecil Scaglione

September 16, 2022 at 3:00 am

Posted in Viewpoint

Tagged with , ,

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