Everyone likes getting money as a gift. Whether it’s a gift card in a Christmas stocking or $200 in cash tucked into a graduation card, giving money is a universally welcome gesture. But what about giving a present that offers more than money — one that reinforces the value of money?

The following gift ideas for people of all ages can keep on giving long after they’re first given.

Contribute to Their 529 College Account

If you know a young person planning to go to college, you can make their path a little easier by donating to their 529 college account. It helps them save for future college tuition and expenses by locking them in at current rates. More than that, 529 accounts typically come with loads of tax advantages that can prove extremely valuable in the future. 

Every U.S. state administers 529 accounts differently. Some offer varied investment options, and others may have unique tax policies. Check with a local financial pro to learn more before you give. 

Make a Charitable Donation in Their Name

Whether they want to help improve other’s lives or further important issues, everyone cares about something. You can help them promote their cause by contributing to a non-profit organization in their name.

This is a gift that’s rewarding on several levels. It helps form a bond between the recipient and the causes most important to them. It benefits people in need, not just the giver and recipient. On top of that, the gift is usually tax-deductible.

Schedule a One-Hour Session With a Financial Professional

This idea is good for teenagers or young adults who are just getting started in personal financial planning. They’re about to enter into a complex system that can be difficult to navigate, even at advanced ages. Just a little knowledge now can be greatly beneficial in the future.

A skilled and experienced financial professional can lay the groundwork for a life of fiscal responsibility. They can give your recipient a basic framework for saving, investing, budgeting, and more. 

Give Them Stocks as a Present

Stock shares — even just fractional ones — can help gift recipients build wealth. For those new to financial dealings, this gift can give them a context to learn more about investing in the future. Especially if there’s an industry or sector they’re passionate about, gifts of stock shares can be stepping stones to crafting investment strategies.

Buy stocks as you normally would through your brokerage, then transfer ownership to your recipient. Make sure you’re aware of the tax implications for both you and them.

Contribute to Your Spouse’s or Child’s IRA

Saving for a happy and healthy retirement is the main objective of long-term financial planning. If you’re married to someone with an earned income, or you have a child whose future you’d like to make a little easier, you can contribute to their retirement account.

There are guidelines in place for making donations to your spouse’s or child’s IRA. Some financial institutions even offer IRAs specifically for spouses and children. However, be aware that your recipient must be actively making earned income to receive the gift. Be absolutely clear on local and federal regulations regarding IRA donations.

Give Gifts That Will Last

These financial gift ideas provide more than instant gratification. They can help build and develop financial literacy that will last a lifetime.

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