Toys may make a child smile this Christmas, but a gift of an I bond can help build a financial future. Here are seven last minute money-smart ideas to consider depending on the ages of those on your list:
We brought home a Christmas tree last night. There were only three remaining at the shopping mall lot near our house, and no more were expected.
Cash. My Great Aunt Gladys gave me and my three siblings each $25 dollars every Christmas when we were kids. All these years later, I still smile at her gesture and remember her generosity. A subscription to a financial publication. This is spot on for a young person who is starting to show some curiosity about money matters. I recommend Kiplinger’s Personal Finance Magazine. The annual subscription will run you $29.95 a year.
529 account. Don’t expect whoops and cheers of joy for giving this one from your young giftee, however, it’s a good one. You can open a tax-sheltered 529 account with a child as beneficiary for as little as $25 in many states. The 529 cash can be used tax-free for college costs. Potentially, you can get a state tax deduction for putting money in the account, depending on where you live. You can learn more about these state-sponsored plans at Savingforcollege.com.
Most banks, brokerages and mutual funds will help you set up a custodial or guardian Roth IRA for a minor. As the custodian, you control the money in the account until the child reaches the age of majority in his or her state; then the assets are turned over to him or her. The website Stockpile.com is another option that’s fairly simple. Kids can own stock by having an adult on a custodial account with them. “The minor owns the stock, while the adult has legal responsibility over the account until the minor becomes old enough to have their own individual account,” according to the site. The minor has his or her own Stockpile login so they can review how their stocks are doing and request stock trades, but the custodian will need to approve.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Mom shares clever trick to stop kids from begging for holiday toysHer technique is so simple, and there's a reason it's gone viral: It works.
Baca lebih lajut »
Stevie Wonder Remembers Jacqueline Avant, Brings Out Ledisi & Johnny Gill at Sold-Out House Full of Toys BenefitThe iconic singer-songwriter brought back his holiday benefit concert after a three-year break.
Baca lebih lajut »
What 17 Vanity Fair Editors Are Gifting and Hoping to Receive This Holiday SeasonCozy cardigans, luxe hotel stays, CBD wellness and some Gucci: Here's what's making our holiday season bright.
Baca lebih lajut »
6 last-minute holiday gift sets in Sephora's Year End Sale - up to 50% offSephora's Year-End sale has great deals on top-selling holiday beauty sets - PLUS you’ll get an extra 20% off sale items with the offer code: YEARENDSALE.
Baca lebih lajut »
Shopping: The Best Last-Minute Gifts That You Can Pick Up or Get Delivered Before ChristmasFrom cool kids toys and beauty stocking stuffers, to tech gadgets and fitness gear, these presents will save the day.
Baca lebih lajut »
21 Last-Minute Stocking Stuffer Ideas Worth Adding to the Cart This SeasonFrom blingy accessories to sought-after skincare and some wellness treats, these pint-sized stocking treasures are sure to light up everyone’s holiday.
Baca lebih lajut »