Meaningful Investments to Show Your Family You Care
Every parent wants to express the utmost care, love, and devotion to their children – and to their extended family, wherever they may be. You do this with gifts and excursions, treats and hugs, attention and education – all those wonderful things that are part and parcel of parenthood and family life. But when it comes to making investments that come to mean something long after you initially made the investment, what should you do? For those long-term, hushed-up declarations of your level of love and care, this article provides three main ideas to invest in smiles of the future.
College Nest Eggs
Your children won’t be devoting time to thinking about their future college careers up until that age of about 14, so this is an investment that’ll only be appreciated when it’s time for them to fly the nest themselves. But it’s by far the most important for their life trajectories.
If you can, keep aside a little money every month in a fund that you’ll be able to present to your children – for use to pay for a college or university course – when they come of age. Many children in the US and elsewhere are unable to attend higher education because of a lack of funds – so if it’s within your income bracket, it’s a wonderful thing to start saving for your children’s future degrees.
Property
Property is always a sound investment – especially if you’ve done your research and you’re confident whatever you purchase will be a sound investment. You might find yourself in a position where you’d like to relocate your elderly relatives closer to your own home – and you buy a home for them. It’s an investment that you’ll one day be able to pass on to your children.
Then there are your children themselves. It’s difficult for all families to afford more than one property, of course, but if you can save on their rent by buying a small apartment for them to live in – one that’s also going to appreciate in value – they’ll be able to pay rent to you instead of to an exploitative landlord. A far better scenario – if you can afford it.
Insurance
A final investment that’s recommended, especially if you’re the main breadwinner in your family, and most especially if you work in any kind of dangerous occupation, is life insurance. It’s a little morbid and, of course, it’s something you’d rather have as a back-up investment in case the unthinkable happens – but it’ll mean a lot in the event that your family is left without its main or sole breadwinner.
Search online how to buy life insurance to find the deal that’s most accommodating to your needs, and that offers the best pay-out to your family. While those in military service are essentially standard-issued life insurance, there are many other vocations that are dangerous. That’s not to mention any health issues you may have that could, in worst-case scenarios, deprive your family of financial stability.
These three major investments should help show that you care long after their purchase – making life easier and happier for those around you.
