The holidays—it’s the time of year to stuff stockings, purchase gifts on the sly for coworkers, and to do your darndest to make sure your children’s’ dreams come true. Typically, that involves getting them the year’s hottest, flashiest toys.
For parents, it can be hard to keep up in the world of Pokemon cards, Tickle-Me-Elmos, and Hatchimals. And unfortunately, kids often lose interest in these types of toys quickly. So, why not think outside the box and get them a gift that could last a lot longer?
Of course, there’s always the risk that any investments or financial products purchased by a custodian for a beneficiary could lose value with time. Keep that in mind before you completely ruin the holidays.
It beats the heck out of some of the stuff that Santa’s going to drop off, like the following.
Fun fact: There are roughly 80 lego bricks for every person on Earth.
Legos can be cripplingly fun—especially when you manage to step on one barefoot. While many kids love Legos, they’ll outgrow them and get bored at some point.
Arts and crafts
Fun fact: Glitter has been used by some cultures dating back as far as 40,000 B.C.
You may have a beautiful home, with freshly painted walls, spotless flooring, and some respectable furniture. Why play a game of Russian Roulette with your interior? Leave the paint, markers, and chalk to somebody else.
Fun fact: A reticulated python can cost more than $150.
Sure, a puppy, kitten, or reticulated python in a box might make for a cute Christmas morning photo op. But you wouldn’t believe how hard it is to scrub dog urine out of a dirty couch cushion. Pets are a lot of responsibility, so think twice before getting the kids a Dalmatian.
Fun fact: Nearly 45% of amateur drummers suffer from tinnitus—a chronic ringing in the ears.
Your kid is probably no John Coltrane. Maybe it’s best to avoid giving musical instruments, unless you plan on giving yourself a headache supreme. Instead of banging away at a snare drum, try banging away at future financial troubles by investing for your kids’ future.
Fun fact: a Furby can say almost 200 words in English and “Furbish.”
Who wants a robotic nightmare that will wake you up in the middle of the night with nonsensical “Furbish” words? Animatronic toys are fun for a few minutes, but quickly lose their appeal—remember that when trying to decide what to put under the tree.
Fun fact: The fastest RC car in world history has a top speed of more than 200 miles per hour.
Do you value your ankles, toes, and heels? Avoid Achilles’ fate and forgo buying that remote controlled car—let the kids wait until they’re teenagers before they total a vehicle. RC cars, boats, planes, and drones are another class of toys that kids will grow bored with. But they’ll probably never get tired of stocks, bonds, and funds.
Find out how to open a Stash Custodial Account for your loved one, and help set them up for a more financially secure future.