Gift giving runs amok this time of year. So many gifts that will never be used will be wrapped up and put under a tree and unwrapped. They may possibly be admired for a moment, then set aside. Some gifts may get stored away and forgotten or swept away in the spring cleaning just a few months away. The point is that gifts that cannot be wrapped and put under a tree are often the best gifts of all. Peace of mind, for instance is one of those kinds of gifts. As is the gift of financial stability. And the gift of a well thought out financial plan that will see your loved ones through life’s ups and downs is one of the greatest of all gifts.
Sure, you can get some trinkets for the little ones. But as your children and grandchildren get a little older, gift giving can be substantial such as the opening of a college education fund or 529 plan. Or you could teach your children about financial health and well-being by teaching them about investing and the value of long-term financial plans and sticking to them.
If you haven’t established a financial and estate plan for your own family, there’s never been a better time than the present. After all, it’s been said that “the past is history, the future is a mystery and this moment is a gift. That’s why it’s called the present.” Give your family the gift that will make their financial future more stable and take a little bit of the uncertainty about financial affairs out of the equation.