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!