Here is what I’ve been looking for: specific reasons for my lack of wealth at the age of 30, stemming from my childhood. Count on Money Magazine to let me know how I am not worth all I could be (and to have another quality list, like yesterday’s 8 smart year-end moves). Here are gifts you can give your kids that may help them “get rich,” or at least think intelligently about money management.
* Teens: Match whatever your working teen puts in his or her Roth IRA. Start with Vanguard or TIAA-Cref.
* Young readers: Alexander, Who Used to Be Rich Last Sunday, by Judith Viorst.
* Young gamers: Payday, a fun board game that teaches money management.
* Teen gamers: The Sims 2: Open for Business Expansion Pack, in which you can run your own virtual business.
* All kids up to 18: Contribution to a 529 plan. Savingforcollege.com is a good resource for these tax-deferred education savings plans.
The good thing about these gifts is they stand the test of time. You don’t have to worry about buying into the right fad or getting the latest and greatest toy. Those gifts will soon be fogotten about, but the above gifts will last for a long time and have a positive effect.
Updated February 6, 2012 and originally published November 28, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.