Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Anyone buy stocks as gifts for young family members?
Old 11-24-2009, 09:07 PM   #1
Recycles dryer sheets
 
Join Date: Mar 2009
Posts: 357
Anyone buy stocks as gifts for young family members?

I recently read a financial book where the author became interested in economics because a grandparent bought him stock when he was young.

I've thought about doing the same thing for my nephews (ages 8 and 10). It could excite them they own a part of Nike, teach them about saving and make them interested in the finances.

Has anyone done this? What was the outcome?
__________________

__________________
bank5 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-24-2009, 09:15 PM   #2
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,899
At 8 and 10, do they have experience with a bank account yet? Deposits and withdrawals, and doing the simple math to keep a bank account balance might be more on their level and teach them more about savings at that age. I would wait until they are in junior high school and learning about the stock market in school.
__________________

__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 11-24-2009, 09:25 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Jun 2006
Posts: 1,666
We did this for our neice and nephew.
Bought them one share each of Disney. They put the certificates on their walls (not sure if they are still there).
The certificate came with a little book for kids on what a stock is and another book with some suggestions for parents.
Not sure how it worked out though, hopefully it will be benificial in the long run.
__________________
"We do not inherit the earth from our ancestors, we borrow it from our children.
(Ancient Indian Proverb)"
Zathras is offline   Reply With Quote
Old 11-24-2009, 09:31 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,035
Quote:
Originally Posted by bank5 View Post
I recently read a financial book where the author became interested in economics because a grandparent bought him stock when he was young.

I've thought about doing the same thing for my nephews (ages 8 and 10). It could excite them they own a part of Nike, teach them about saving and make them interested in the finances.

Has anyone done this? What was the outcome?
I bought stock for my SO's grandsons when they were little . It 's a great idea but I would definitely wait until they were old enough to appreciate it and understand it . 8 & 10 seems like a good age for this.I bought through one stock .com but next time I will use share builder or my own broker .
__________________
Moemg is offline   Reply With Quote
Old 11-24-2009, 10:16 PM   #5
Recycles dryer sheets
 
Join Date: Mar 2009
Posts: 357
Quote:
Originally Posted by W2R View Post
At 8 and 10, do they have experience with a bank account yet? Deposits and withdrawals, and doing the simple math to keep a bank account balance might be more on their level and teach them more about savings at that age. I would wait until they are in junior high school and learning about the stock market in school.
It might be a bit young. The author of the book said that growing up he'd read the sports section in the paper and then always flip to the stocks to see how his stocks were doing. It made him want to learn more about how his companies were doing and that's how he became interested in finance.

I'm leaning away from it though. I'm not sure they'd be interested enough in it.
__________________
bank5 is offline   Reply With Quote
Old 11-25-2009, 10:20 PM   #6
Thinks s/he gets paid by the post
charlie's Avatar
 
Join Date: Mar 2004
Location: Dallas
Posts: 1,211
I bought some Exon stock for my grandkids (DRIP shares) when they were born and my daughter used them to fund Pre-K and kindergarten at a good private school. It gave them a great start on their education.

Cheers,

charlie
__________________

__________________
charlie is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
For you military & family members: Is USAA "verifying your data" too? Nords Other topics 21 11-24-2009 10:16 PM
Do your family members listen to your financial advice? JustCurious FIRE and Money 63 02-08-2007 11:22 PM
Advice to younger family members uncledrz FIRE and Money 16 12-18-2006 04:09 PM
Family members coping with your ER John Galt Other topics 13 01-16-2005 05:01 PM
Young family with preschool kids er hopeful FIRE and Money 4 08-03-2004 12:57 PM

 

 
All times are GMT -6. The time now is 03:45 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.