If you are looking for the perfect gift for the college graduate, make sure you think outside the box and get them something that will benefit their financial future. Don't waste your money on something they aren't going to use or a gift card they are going to use dining out or for clothes, instead get them something that will put them on the right financial path in life.
There are many types of investments and items you can give them so they can start thinking about saving, and what they want to do with their money. Here are a few things to consider giving the graduate.
Buy Gold
The gift of gold may seem like an odd item to give, but it's actually a great investment you can give to the graduate. Gold is a commodity that has steadily increased in value over time, and it's something that is in demand globally, unlike currency. One currency can lose all value, but gold is going to hold its value and increase in the future. Gold coins, gold bars and other gold options are great choices for the graduate.
Certificate of Deposit
Instead of giving the person money, you can give them a CD. This is where you put the money you were going to give them into an account, and it's going to build interest over time. When the deposit reaches maturity the receiver can take it out and they have more than what you originally gave them. If there is an emergency, they can take the money out with penalties.
Stock or Mutual Funds
Purchasing stock or mutual funds for their investment portfolio, or to start their investment portfolio is a great idea because they will have that stock when they are ready to start playing the market. They will also have that stock to sell if they are in a bind for cash, or they can sell it if the stock increases greatly in value.
These aren't the conventional gifts that someone would get when they graduate college, but they are ideal gifts for someone that needs to start planning for their financial future. When you give the gift explain to them that they should visit with a financial planner to talk about savings goals, because they sooner they start saving money the better off they will be later on, even if they are starting out with a low salary.
