In a bit of a departure from my usual eco-friendly cleaning tips, and in honor of the holiday season, I'd like to tell you about a gift that lasts a whole lot longer than a toy.
My grandson lives a vacation-type drive away. It is costly to buy and ship stuff. Plus there aren’t many toys that he doesn’t have. I’ve been doing some thinking and trying to define what is an asset and what is an expense. In the simplest terms you could ask the question, “Does it bring money in?” If the answer is “Yes” it is an asset. “No” it is an expense.
I’ve decided to spend my money on assets. So, here is my idea. We set up an account for my grandson. Recently our financial advisor found a stock that is in my grandson’s city and the company will hold their annual meetings there. We purchased several shares. The gift that he will receive is an actual stock certificate for a share that he owns.
I think this is a wise choice because he can look at the certificate and know that he owns an asset and he will be able to learn what it is like own a part of a business. If the business does well or not, he will be thinking a little differently than his peers. In addition he has a financial advisor that he can ask questions and know that he receives honest answers.
Contact me at geri@icleanhouse.com if you would like an introduction to a really good financial advisor.
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