It’s definitely a sign of the times but. Nothing new. Setting your children up for financial success takes many forms. This is just a way to invest the money in the market and allow it to compound
lol if someone asked me to put money in their kids savings account I would laugh and never ask again. The point of giving a gift is to bring joy and have them appreciate it and give you a hug. Instead this is a behind the scenes transaction that the child will only appreciate when he’s an adult and Mr. Dad here will take all the credit and the family and friends will remain faceless. Smart business move, but birthday gifts are personal gifts. Let your kid be a kid.
You must be fun at parties. So you’re saying you would prioritize instant gratification over the future financial possibilities for the child? That money could be used to get an education, down payment on a house etc. Honestly sounds like a really good idea and he’s not forcing anyone to make contributions..
You missed my point. A kid needs to be a kid. Saving for the future is a great thing …. For your parents to do, not for your friends and family. It’s cheesy. I guarantee the majority of people would be off put by “throw your money in his savings account please”. We give a gift to bring another person joy. A 5 year old won’t be joyful over his 401k 😂 Good intensions, bad in real life practice.
@@CamelsForDays Who said they're mutually exclusive? He didn't say you shouldn't buy your kids toys - this is just another way for friends and family to contribute if they want to. Think you're taking it a bit too literally -- like you think that all money should be put in the account and the kid just sits there with no toys or anyting? Use your head a little bit. Guaranteed that grandparents, relatives, and close friends would feel better about contributing money to the future of the child rather than blowing it on plastic junk that ends up in a landfill. I def think it would be cheesy to tell everyone to do this but for close family and friends it definitely is a great idea. *edit spelling
I can agree that in certain circumstances it might be received ok. Like a “for this special event, we don’t want gifts…etc.”… I still don’t think it would be received well in general though. But to each their own, I’m sure some very practical givers would love it. Keep in mind this is coming from a dude with kids and toys and crap everywhere lol. I keep telling people to buy them practical things but the plastic junk keeps coming in 🤦♂️.
I don't like this approach because maybe some of those gifts could be life changing for your son. Imagine that is a book that gives him another perspective, or its a musical instrument or something else. When I had 9/10 years my grandpa bought me a CD burner. That was a gateway to music and computers. Today I'm a software engineer and a musician. That gift was more valuable that all the compounding of those years
I don’t see why it’s mutually exclusive. Grandparents and family members might want to buy toys for the kid and also give some money for the future instead of splurging like 500$ on something that will eventually end up in landfill
I know if someone send me account details to send money instead of buying a child a gift I wouldn’t trust that person at all, id just assume anyone selfish enough to take away the excitement of their birthday is selfish enough to take away their money
$6700 at birth in sp500 is $1 million at 65, btw; that's less than a delivery room visit costs.
"He prefers playing with boxes or paper bags anyways"....already specializing in infrastructure!
That is dystopian. Saving for retirement just out of the womb. What a world
It's called being a responsible adult. Taking care of your children's financial future is not dystopian.
Jews are gonna be Jews
Its called meta gaming. Skill issue
It’s definitely a sign of the times but. Nothing new. Setting your children up for financial success takes many forms.
This is just a way to invest the money in the market and allow it to compound
lol if someone asked me to put money in their kids savings account I would laugh and never ask again. The point of giving a gift is to bring joy and have them appreciate it and give you a hug. Instead this is a behind the scenes transaction that the child will only appreciate when he’s an adult and Mr. Dad here will take all the credit and the family and friends will remain faceless. Smart business move, but birthday gifts are personal gifts. Let your kid be a kid.
You must be fun at parties.
So you’re saying you would prioritize instant gratification over the future financial possibilities for the child?
That money could be used to get an education, down payment on a house etc.
Honestly sounds like a really good idea and he’s not forcing anyone to make contributions..
You missed my point. A kid needs to be a kid. Saving for the future is a great thing …. For your parents to do, not for your friends and family. It’s cheesy. I guarantee the majority of people would be off put by “throw your money in his savings account please”. We give a gift to bring another person joy. A 5 year old won’t be joyful over his 401k 😂
Good intensions, bad in real life practice.
@@CamelsForDays Who said they're mutually exclusive?
He didn't say you shouldn't buy your kids toys - this is just another way for friends and family to contribute if they want to.
Think you're taking it a bit too literally -- like you think that all money should be put in the account and the kid just sits there with no toys or anyting? Use your head a little bit.
Guaranteed that grandparents, relatives, and close friends would feel better about contributing money to the future of the child rather than blowing it on plastic junk that ends up in a landfill.
I def think it would be cheesy to tell everyone to do this but for close family and friends it definitely is a great idea.
*edit spelling
I can agree that in certain circumstances it might be received ok. Like a “for this special event, we don’t want gifts…etc.”… I still don’t think it would be received well in general though. But to each their own, I’m sure some very practical givers would love it. Keep in mind this is coming from a dude with kids and toys and crap everywhere lol. I keep telling people to buy them practical things but the plastic junk keeps coming in 🤦♂️.
I don't like this approach because maybe some of those gifts could be life changing for your son. Imagine that is a book that gives him another perspective, or its a musical instrument or something else. When I had 9/10 years my grandpa bought me a CD burner. That was a gateway to music and computers. Today I'm a software engineer and a musician. That gift was more valuable that all the compounding of those years
Could do both.
I don’t see why it’s mutually exclusive.
Grandparents and family members might want to buy toys for the kid and also give some money for the future instead of splurging like 500$ on something that will eventually end up in landfill
I know if someone send me account details to send money instead of buying a child a gift I wouldn’t trust that person at all, id just assume anyone selfish enough to take away the excitement of their birthday is selfish enough to take away their money
Great idea
Bro got the concept of Brithday Gifts wrong...
He really didn’t.