No. of Recommendations: 5
I set up an investment match program for my kids. Up to $12,000 a year.
Each quarter, we give them 100% match for what they have put toward retirement account(s).
Through experience, both my own and theirs, a gift of money gets consumed in lifestyle creep or paying off credit card balances (which they KNOW they are not supposed to carry) or treated as found money and blown.
In the past I had them open an account at Etrade and to give me the account number, then occasionally transfer some stock shares to them. One had not looked at the account for several years and called me one day and said "I checked the account and have NN shares of GOOG that I didn't know about."
