What do you get for a child who was just born? Do you get them a blanket, a teddy bear, clothes, baby bottles, etc.? Or have you gotten them something that will last an entire lifetime and grow with them as they get older?
If you are thinking about what to get for a newborn, you should think about starting either a college fund or a retirement fund. Both of these funds will grow with the child. These funds will also give the child the gift of an education or the gift of retirement money, especially in a time, many years from now, when Social Security may be very scarce. After setting up these accounts, there should be an annual deposit goal.
I think these are great gifts. What do you think?
To read more about setting up these funds for newborns, follow this link.