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My parents (before they passed away) dad gave my 2 boys a few bonds on their
birthdays. They amount to about $300
Both kids are 18 or over so instead of just giving them
the cash , I wanted to use it to buy them something that would be a "memory" gift from their grandparents.
My only idea has been a nice pocket watch with an inscription
about it being from the grandparents with love.
A watch sounds very appropriate.
If your dad had a special interest you might choose something related to that.
For instance trains, cars or boats. A picture might work.
Since the bonds were given to them, shouldn't they decide if they want a memory gift or the bonds? A watch is a great idea, but since the money already belongs to them, I'd give them the choice.
Fewer and fewer people are wearing watches these days, especially those under 30 - they already have clocks on their DSes, Ipods, phones, etc.
They are 18. Giving them the bonds now guarantees they'll cash it and spend it on something stupid. Wait until they get married, buy a house or have their first child - hand it to them with a note that shares a memory about their grandparent with them.
Buying something they don't want and won't really appreciate is also a waste, imho.
Since the bonds were given to them, shouldn't they decide if they want a memory gift or the bonds? A watch is a great idea, but since the money already belongs to them, I'd give them the choice.
Quote:
Originally Posted by sskkc
Fewer and fewer people are wearing watches these days, especially those under 30 - they already have clocks on their DSes, Ipods, phones, etc.
They are 18. Giving them the bonds now guarantees they'll cash it and spend it on something stupid. Wait until they get married, buy a house or have their first child - hand it to them with a note that shares a memory about their grandparent with them.
Buying something they don't want and won't really appreciate is also a waste, imho.
Totally agree with both of these posters. My sons are in their 20's and neither of them wears a watch...they check the time on their cell phones.
I think you are smart to try to find something special rather than just hand them some cash. Cash has a way of just frittering away. A remembrance can have special meaning for a long time. Unfortunately, boys are more challenging to find those special things for...do they have a special memory of things they did with your parents? Something that reflected that might an idea.
I think you should give them the bonds and let them decide what to do. Wouldn't it legally be theirs, anyway?
Before handing it over, though, maybe the three of you can sit down and discuss what you think should be done with the money. Maybe a charitable donation? Or reinvest in more bonds? Put it in a high-yield savings account? Invest it? By discussing it you can make clear that this money is special and has a meaning that goes beyond just the financial value, yet let them direct how they want to spend it.
I can see why you don't like just handing over cash, but I also think that it's their money, their gift, and they'll feel more invested in it (and perhaps feel more deeply connected to it, and to their grandparents) if they decide how to use the money. And while the watch idea is nice, I don't know if it means that much if you're the one picking it out, not their grandparents. Maybe you could suggest the watch idea and see if they like it. And if not, even if they choose something less physical (investing, for example) that doesn't mean it's any less meaningful. I'm assuming the bonds are still earning interest? You could offer to continue to hold onto them for safe keeping until they need them for something really special.
Last edited by uptown_urbanist; 03-29-2010 at 08:57 PM..
It's legally their money. You can't exactly just go spend it for them. If you want to get them a memory gift, do it on your own.
Since they are over 18, are they on their own or in college? I'm sure in these tight economic times, they'd appreciate that money to put into savings, pay rent, etc etc. As a 22 year old graduating soon, I am letting everyone know that while I appreciate the thought, until I have a car/apartment/job, I would appreciate money for all gifts. It won't get frittered away- it will help to pay for life's necessities.
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