4 Gifts that I am giving this year

by - November 16, 2016

Holiday gift-giving time is around the corner. What better gift is there than a gift that has the potential to grow over time and provide perhaps additional financial security for people that you care about?
Clothes, gadgets, toys will be used and after a while will be shelved.

This year, give the gift that keeps on giving: a financial gift. It grows rather than depreciates, and will inspire further contributions and more growth offering them security.

Here are the gifts that I am giving this year.

Giving your loved ones an understanding of the market is a good educational tool. Financial literacy always is the best investment. So the gift I am giving is Warren Ingram's How to make your first million. Warren is an award-winning financial planner and regular guest on Talk Radio 702 and Cape Talk.  I wish I had way this book way back when I first started earning my own money. If I had put some of these principles or advice to work all through my earning life perhaps I would have been a billionaire by now. I found the book to generally give sound advice and get you thinking about how you need to manage every phase of your financial life. The book also helps you to look at money in terms of your life—not just stuff.  It’s a book that needs to be owned so you can dip in and out of it to take full advantage of its message. And the cool thing is that Warren is giving away all the proceeds of the book to education. Now isn't that a nice gift to give?

SatrixNow vouchers.  If you've been reading my blog you will know that I am a fan of Satrix. It's how I started investing and how I will continue. I love how easy it is. With the ever changing technology, Satrix is making it easy to give a meaningful investment at any budget level and for any occasion through SatrixNow. You can get your loved one a gift card for as little as R50. I love investment gifts because they give loved ones a real stake in the world and a real stake in their own future. And this is a gift that doesn't depreciates and will inspire further contributions and more growth.

Tax Free Savings Account. You can get this account at any bank or investment houses in the country. Investment income in a TFSA—whether you’re earning interest, dividends or capital gains—are not taxed, even when withdrawn. throughout your lifetime. This tax-free compound growth means that your money grows more quickly inside a TFSA than in a taxable account. So instead of wasting money on expensive toys or clothes they quickly grow out of, a financial present is a good way to spend money on your loved ones.

Give them cash. Times are tough for many people. Giving cash is the most practical thing you can do for them. Giving someone a R500 worth of present that they don't need is a waste of money. If on the other hand you gave them R500 cash, that money can help with  heavy debt, ease the strain of an unexpected medical bill or bolster a loved one’s retirement account.
I know a lot of people feel bad about giving cash because they think it shows laziness and does not express any feeling or thought. But in this economy, instead of wasting money on worthless gifts, give your loved ones money and let them make the buying decisions for themselves. And if you really care about someone, you don’t need an object to express that.

So, what kind of gifts are you giving this year?

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