As parents we see the need to intervene a bit and not just let Jackson drown in presents that are nice in the moment, that aren’t as useful long-term (in large quantities).
In the long-term he’ll appreciate what we’re going to share below, but in the short term he might not like it and you might wish you could bring him more joy today and get to see how happy he is unwrapping a new gift, but we feel the most valuable gifts are:
- (Maybe) a handful of toys that he’ll get lots of use from.
If you’d like to give Jackson a gift, here’s how:
Contribute to his 529 college savings account (Preferred Option)
Here’s the link https://go.fidelity.com/y6xz7
(There’s a $25 minimum, but if you’d like to gift less or don’t want to put your information in Fidelity you can give cash or a check and we’ll deposit it into the account)
Here are a few examples showing the value of different gift amounts.
- With a gift of $25 it could be worth $70 by the time he’s ready for college.
- $50 will turn into $140
- $100 becomes $280
This is the power of compound interest over about 15 years assuming average returns from index funds.
Specific gifts and toys he’d really like
(some things on the list might seem odd, but these are things he’s asked for over and over and really wants)
Here’s the link to his Amazon wish list https://www.amazon.com/gp/registry/wishlist/19VK4831ONZI6
There are also a few things he wants that aren’t from Amazon:
- Captain America
T-Shirt, Shield, Gloves
- Clothing is also great (please include a gift receipt)
- Ant farm (preferably with gel and not sand)
Transformer toy that’s for his age (since the ones for bigger kids are too hard to transform and he’ll get frustrated)
(NOTE: If you’d like to buy one of the gifts somewhere besides Amazon, or a similar gift, there’s a link on the Amazon wishlist for each item that says “Buying this gift elsewhere?” to mark you’re getting it from a different store to avoid duplicates)
So, “Why the heck are you depriving him?”
We think he’ll start to appreciate the fewer things he has more and become more appreciative of what he has.
We also believe that when he’s older and sees his friends taking on lots of debt for college, and realizes that he might not have to take any out (of very little) he’ll be so appreciative and grateful. This will also give him more freedom in his life since he won’t be burdened with unnecessary debt for decades after he graduates, while having more options open to him.
Naty & Tim