What is your financial strategy? If you have to think for more than a couple of seconds before answering that question, you might not have one. That's okay — plenty of us could use some help with our finances. While it can be tempting to run from information about money when you're struggling to get your act together financially, you're better off just digging in and starting to read. This website is a great starting point. Here, we share informative blog posts about all sorts of financial topics. Learn about budgeting, saving, applying for a credit card, spending responsibly, and so forth. Before long, you will have a financial plan — and a good one, at that!
When you want to give a special financial gift that will be an investment for the future of the recipient, there are some different options to consider. You want to talk with a financial expert to see what different possibilities are the best to gain a return, but you don't want to make a high-risk investment that may not be worth much. Here are a few gift options that may be the perfect option for your upcoming gift needs.
Tax Free Bonds
Try investing in some tax-free bonds to leave behind to the children and grandchildren, and make sure that you have this information in your will. There are specific tax free bonds that you can purchase as an investment for their future, and then they can cash out the bonds when the bonds reach maturity or if there is a life event that occurs that they need access to the money.
Gold Bars
Solid gold is a great gift for any age and any occasion. This is something that the recipient can keep for years or decades, and gold has shown to increase gradually over time. There are times when gold is in high demand and at a very high rate. Some believe that all the gold will be harvested from the earth and that gold will become an unattainable item in the future. Take your time to decide the size and what investment you want to make for this gift.
Certificate Deposits
A CD is a great way to give the gift of cash for the future, and you can pick the rate to ensure that you are giving them a gift that will earn a return on the initial investment. Look into the best CD rates with different financial institutions and figure how much you want to invest. The date of maturity should also be taken into consideration for the recipient's future monetary needs.
If you don't want to just give cash, and instead you want to give a gift that will be even more profitable for the recipient in the future, these are just some of the suggestions that may work for you. Talk with a financial advisor to see if there are other possibilities better suited for the type of gift that you want to give or for the person that you want to give the gift to. A financial gift that continues to grow is always a great gift choice.
Share22 January 2020
