Hi, not sure if this is the right place to post this...I was looking at some silver coins-Disney ones with pictures with snow white, etc. on them. I was wondering if silver is a good investment for the girls. I would like to start a collection for them, something that will increase in value over the years. Thank you so much.
Want to buy something for my young nieces
- Thread starter Jaime
- Start date
Hey Jaime,
Better late than never on the reply!
While you can find collections that appreciate in value I would suggest separating them- get one thing that is cute and Disney like and one thing that is an investment. Eg get them a Doll and get them a financial instrument like a bond or something in a UGMA account.
Note -- collectibles, should you go down that route are taxed at a higher capital gains rate of 28%
My adult daughter still regrets not selling her Tabasco beanie baby. It was selling for $300. She does not regret the financial instrument gifts that helped her pay for a Stanford education.
Annie H.
Egalatarian
Really better late than never. Smarty Pig is a very interesting web site that let's one choose goals and set up more than one, you can invite friends, relatives, wedding guests to participate and add to your goal and it's an excellent way to teach young folks about saving. They are currently paying 1% on funds and that's not too shabby also although it doesn't have the flexibility of a MM account. You can also redeem goals for gift cards and get add-on reward of up to 11%. I've been waiting forever for the details of their long-advertised SmartyPig Cash Rewards Card.
https://www.smartypig.com/
https://www.smartypig.com/
I am not sure what is your budget for this gift -- but maybe just buying a no-load, low fee Index Fund would be the best idea for someone at that age. Give it 50+ years, with dividend reinvestment and growth, they maybe extremely happy and take that 180 day cruise around the world when they retire!
Cheers,
PedroNY
Cheers,
PedroNY
Annie H.
Egalatarian
"Assuming that long-term growth rate of 12%, her nest egg is worth $4,185,342 on her 66th birthday." "Assuming" a long-term growth rate of 12%, I'd likely be a billionaire. Merriman is a fee-only firm but they are AUM based (fees are based on a percentage of assets under management) and not fixed fee. As I recall, it appears they are no longer publishing their fees, they start at 1% AUM on a tiered scale and can be much higher. Merriman is starting to remind me Ken Fisher whose ads are everywhere.
loves2fly
Gold Member
Precious metals in the form of coins make great gifts for kids but then I have sized up my nephews and nieces to choose who among them will keep these as an investment. It comes with a carefully worded note wishing for their success in life and may it serve as their lucky charm to more 'golden' opportunities.
In other words, the ones who I know will treasure them, I give them a graded gold buffalo when they graduate college. Up to this day, they always mention it to me when they write, maybe fishing for more? lol I bought these gold coins when they were selling for less than $1K each and Microsoft live offered 30% off on ebay for clicking the banner. This was sometime in 2008, IIRC. Husband and I made 2 ebay accounts each to maximize the deal since the cap discount/rebate per account was $2.5K. We rolled that $10K to more graded gold coins. We have sold a lot to businessmen in HK looking for NGC graded coins.
In other words, the ones who I know will treasure them, I give them a graded gold buffalo when they graduate college. Up to this day, they always mention it to me when they write, maybe fishing for more? lol I bought these gold coins when they were selling for less than $1K each and Microsoft live offered 30% off on ebay for clicking the banner. This was sometime in 2008, IIRC. Husband and I made 2 ebay accounts each to maximize the deal since the cap discount/rebate per account was $2.5K. We rolled that $10K to more graded gold coins. We have sold a lot to businessmen in HK looking for NGC graded coins.