Today, on Christmas Day, in place of my normal Friday news column, I have this special bit of investing commentary for my readers:
Investing In Your Children’s Future
Today, December 25th, for most Americans, is a holiday of generous excess. We live in a still relatively prosperous nation, and we are a people known for our generosity. One end of your house is most likely strewn with bits of wrapping paper and ribbons. Your children or grandchildren are surely playing with their new toys, dolls, and games. A few of them are probably pouting, because they didn’t receive a Playstation 5 or an iPhone 12 — or whatever gadget it is that they had been hoping for. And I suspect that many of those who received both gadgets and books are now busy playing with the gadgets, but they have piled up their new books “to look at later.”
Take this essay as my personal challenge to you… Ask yourself: What can and should I do differently in the coming year when looking for birthday, graduation, charitable gifts, housewarming gifts, and Hannukah/Christmas gifts that will make a real difference in the life of the recipient?
I have a few suggestions, that come from my own “Tangibles Heavy” perspective as a 60-year-old Curmudgeon-In-Training who lives 25 miles from the nearest sidewalk or any cellphone reception. I’m also a Christian, a conservative, a libertarian, and a traditionalist. So your circumstances may vary.
My Suggestions
The following are my suggestions. These are general guidelines and principles, rather than brand names and model numbers:
Things that truly last. Gadgets don’t last. In today’s Bluetooth-enabled world, most of them are essentially obsolete in less than three or four years. But, in contrast, some gifts are truly timeless. I have some items in my home that belonged to my grandfather, and a few that belonged to my great-grandfather. And you can probably guess what most of those items are: Books, tools, knives, and guns. A few of these items I use almost daily. A good example is a horsehair push broom that belonged to my paternal grandfather. It was very well made, so if I continue to treat it well, then it might still be intact to pass along to one of my grandsons. Another one of my prized possessions is a Winchester brand screwdriver that also belonged to my grandfather. You may not have heard, but Winchester launched a hardware store chain, just a few years before the Great Depression began. Sadly, the store chain didn’t last. But there are still a surprising number of collectible Winchester-marked tools that are still quite useful. You can find them on eBay, if you are patient.
Gifts that require an investment of your time. Obviously, something that you made with your own hands are at the top of this list. But also consider investing your time in genealogy research for your family. That takes a lot of time, but it can result in something tangible that will be treasured for many generations to come. And if copies (both electronic and hard copy) are put in the hands of many members of your extended family, then it will be almost impossible for it to be destroyed by natural or man-made disasters.
Things that hold or gain value. Consider: Items that depreciate are gifts that will probably end up in a landfill within a few years. But silver dollars won’t!Continue reading“Economics & Investing For Preppers”