So I recently heard of a good idea. I don’t remember where I heard it or who said it to be honest, but I thought that it would be a great idea to teach the boys about investing and the stock market over the coming years while they grow and become adults.
The idea is that for every birthday, you determine what it is that they are currently fixated on and you get them a gift and you buy a stock for that fixation. Of course, getting a stock for certain things can be a little tricky sometimes if it is a vague fixation. However, I decided that I would try to do 2 stocks per year and keep track of them from year 1 until they turn 18. So then over 18 years they will have accumulated 36 stocks in a custodial investment account.
That being said, I made this decision a little late for my 1 year old, but for his 2nd birthday I will do 4 stocks instead of 2 and then I will either keep everything in a spreadsheet for each child or keep it all together in 1 spreadsheet and show the numbers over the course of each year. This is the part I haven’t decided yet.
So for the 1st birthday for my oldest son, I will be getting a stock in Disney and Google. Disney for Mickey Mouse and Bluey and such and Google because we watch a lot of educational videos on YouTube and it is owned by Google. For the 2nd birthday I might do the same thing again as we are still watching Mickey Mouse and the same thing with Google as we are still watching a lot of children’s educational videos.
I will probably do the same thing with my youngest son for his first birthday since we was thrown into the mix when he came into the world. Watching both accounts grow in the amount of stocks and the size dollar wise will be fun to watch and it will be nice to teach the boys about it over the years.
I can’t wait!
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