While Santa Claus is drowning in requests for Nintendo Switches and drones, many parents struggle to find gifts that hold lasting value. Chances are, you might not get a great deal on a Switch unless you get into a wrestling match with that mom who got the last one at Target, and the drone will probably be stuck in the neighbor's tree by New Years – plus the joy of these gifts is short.
If you want to gift your child with something of lasting value – and teach your kid a thing or two about money management – it's time to get gift them some stock. That's something they'll surely appreciate in the years to come.
How Does It Work?
For adults, purchasing stock is about as ceremonial as a direct deposit. It all happens on the computer screen and the only certificate you get is a receipt for the order that you print out yourself. However, there are ways to put more ceremony into this gift. First, what are your child's interests? Do they like Disney characters? Do they love Coca-Cola? Think about those interests in terms of a company they would find interesting.
GiveAshare – which specialized in share-giving – lists the following stocks as top ten gift favorites:
But there's plenty of other options, including other brands kids might love, such as Build-A-Bear Workshop and Snapchat. If there's a stock not on GiveAshare's list then they'll try to get it for you.
Where to Get It
Once you make your decision, you have a few choices. You can use an existing account with a discount broker and ask them to help you get an actual stock certificate. Another option is to purchase from an online company that specializes in gifts like this.
For instance, GiveAshare specializes in share-gifting and recipients will receive an authentic stock certificate. The company also sells frames with custom engraved plaques, education kits and T-shirts for kids which reads "I own Disney," among others.
Stockpile offers both single stocks and gift-cards which allow the recipient to chose his/her own stock. With Stockpile, you can buy fractions of shares, investing as little as $5. First, you open a custodial account and then you can make a purchase, with fees as low as $0.99 per transaction. When the named beneficiary on the account becomes of legal age, the assets and stock are legally theirs.
Uniquestockgift is much like GiveAshare, offering stock certificates and framing options for a variety of companies. They also offer stock gift cards.
The Bottom Line
Why spend money on a toy that will bring your child happiness when you can give them an even greater gift, an investment. In a way, it's kind of like you're investing in their future. They'll thank you for it, someday.