The Christmas Gift That Could Change Your Financial Future

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Seven years ago on my youngest daughter's first Christmas, her aunt and uncle gave her such a wonderful gift.

Instead of running out to purchase an extra toy for that eight month old (who clearly didn't need a thing), they asked if they could spend their regular gift money on a savings bond for her instead.

We were thrilled.

The temptation to buy an extra gift for those kiddos is all too easy (even when we know they don't need it!) And, while splurging on your kids is so much fun when they're little, it's amazing to consider what saving a few of those pennies could do to change their financial future.

Did you know that if you chose to invest just $50 today for your child, in thirty years that little $50 would turn into $872.50? (Assuming just a 10% annual rate of return?)

Now, that may not seem all that exciting, but what if you decided to invest $50 every year (4.16 per month) for the next thirty years . . .

Your total investment would be $1500, but in thirty years you'd have $9,905 in that little account.

Wow.

Now, let's just say you go really nuts, put it all out there, and decide to give up a meal or two out each month to add $50 to that account every single month for the next 30 years (that's $12.50 per week. I'm betting you can do that?) 

That little $50 each month ~ maybe just two meals out a month ~ would come out to a ridiculous total of . . .

{Are you ready for this???}

$109,438.68.

For real. 

Your total money invested would be $18,000, but you'd earn a whopping $91,000 in interest.

Craziness!

So, are you heading out Christmas shopping for that cute kiddo of yours today? 🙂

You might want to consider what pinching a few pennies instead could do to change the direction of their financial future. And, if you've not started investing yet for your own future, it's kind of fun to take a few minutes to consider what just a small investment can do.

Check out this investing calculator to see just how strong the power of investing is ~ I love that it allows you to see how adding just a few dollars each month has the power to completely change the direction of your long term financial goals!

Take a minute to step away from the hectic holiday hoopla and contact an investing Endorsed Local Provider. They’ll help you determine exactly how much money you’ll need for retirement, and guide you in choosing the best investment options for your family. You’ll get a chance to start planning for the future and an opportunity to focus on your family's long term financial goals.

Dave Ramsey’s Endorsed Local Provider program is also a great place to find tax help or a local real estate agent, or get insurance advice!

This is a sponsored by Dave Ramsey’s Endorsed Local Providers, however all opinions are my own.