How To Give the Gift of Financial Independence
Grandparents enjoy the chance to pass their hard-won wisdom along to their grandchildren. They can also struggle to find a gift that is meaningful and long-lasting in a throw-away, fast-moving world. Bob and Barb, who are grandparents, conjured up an idea for a gift that would keep on giving: to inspire their grandchildren to take advantage of their youth and the power of compounding. They gave their grandchildren a copy of Early Bird: The Power of Investing Young with a contract and $200 per year for investing. The agreement stipulated that after reading Early Bird, they were free to pick their own stocks as long as they communicated which stock they chose. We were excited to hear from them in 2017 when they gave their unique gift. We followed up with them this year to find out how it went. Bob and Barb had some very intriguing and encouraging observations from the experience. First, the grandkids that chose to participate had some prior exposure to the idea that investing was n...