I spend a good deal of my time around people that have children that are under the age of five. The other day, I overheard a coworker talking to another coworker about a gift a family member wanted to buy. It was a toy Ferrari car.
As I parent, I understand the feeling we have when we buy our child a gift that makes them happy! Believe me, I get it.
But if a family member or friend asks, “What should I buy your child for Christmas?” Ask for cash to invest in stocks. I beg you.
The toys we buy our children bring short-term happiness. When we are 20 or 30 years old, the gift that we had to have as a youngster will be less than insignificant. However, a $100 investment made when the child is a year old could be worth tens of thousands – even six figures! – when the kid is 20.
Trust me the potential of having $100,000 at 20 will trump any gift you received the last 20 years!
No idea where to start? My short guide, The Stock Market is For Everyone, will get you started with everything you need to know.