Gifting to Your Young Adults

Perhaps I should have known on that day more than 18 years ago, when I caught my own breath listening to my son Devon’s beating heart for the first time: I was about to give birth to a talented and enthusiastic drummer. Regardless of where the future takes him, I hope Devon will always march to his own beautiful rhythm – the one that we celebrated recently at his Seniors Honor Day. See those big smiles on us both? No mother could be prouder.

It’s no wonder that we want to give our children all of ourselves and then some as they become young adults. I’ve published a number of posts related to our adult children’s financial well-being. One subject I haven’t yet covered is our own parental temptations to give until it hurts … which may not be in anyone’s best interests.

We could write a book on the subject. Fortunately, New York Times columnist Ron Lieber already has, with his Opposite of Spoiled. As we approach Thanksgiving and are contemplating ways to share all good things with our loved ones, here is one gift-giving idea we’d like to share, in the spirit of Lieber’s ideas about establishing grounded generosity – for you and your children.

It’s the gift of lifelong financial literacy.

I’ve offered some recommended financial reading you can give to your young adult in this special edition of What Sheri’s Been Reading. But to supplement that literary list, first-hand experience may offer no better lesson for your young investor.

For that, there’s a new service that “Reformed Broker” Josh Brown introduced it in a recent blog post of his own. It’s called SparkGift, and it may offer a leg up on the traditional cash, check or savings bond approach to offering someone (even a minor) an entrée to the world of investing.

As Brown observes about youthful investing: “The one thing that young people have as an advantage over everyone else is spelled T.I.M.E. That means they can see their money compound in the market for longer, and the effects of compounding over a decade or more are indistinguishable from magic.”

What better gift for a young adult than some of that magic money … along with some good guidance on how to invest efficiently and according to rational evidence from the get-go?

That, and maybe a good set of drumsticks, for those who are musically inclined.

Sage Serendipity:  Here are our Top 5 Thanksgiving links to get you ready for the holiday.

1. Want to start early?  Watch the balloons inflate for the Macy’s Parade the day before.  There are also some fun facts on this site.  Did you know… “From 1928-1933, the giant balloons were released at the end of the Parade.”
2. If you think planning your feast on a spreadsheet is an inspired idea here’s a  Thanksgiving dinner template for you!  Don’t forget to scroll down to check out the Awkward Family Photo of smoked turkey.
3. Why We Play Football On Thanksgiving: Did you know that Thanksgiving football didn’t come over on the Mayflower?  The history of this tradition is on NFL.com, it must be true!
4. Want an alternative TV experience to football?  Bah Humbug. Here’s a short list from CNN.com listing what’s on the tube from A Charlie Brown Thanksgiving to Mystery Science Theater 3000.
5. And if your holiday table is full of riotous diversity (aka arguments) there is always Adele to bring us back to our senses.

Happy Thanksgiving!