Give The Gift of a Solid Financial Foundation
Jennifer Stockdale • November 8, 2020
Gifts of toys, video games and sneakers may check some items off of their wish lists, but this year, why not give a gift that will last a lifetime. Take a look at two financial gift ideas that can set the children in your life up for a lifetime of success. Talk to your GBU agent today about these great gift ideas for a child you love.
Youth 3 Pay Life Insurance
If the child in your life is young and healthy, you may wonder why life insurance would be necessary. GBU's Youth 3 Pay Life insurance is permanent life insurance that can be purchased now at lower rates, but will cover the individual throughout their life. This policy also offers a Guaranteed Purchase Option rider that will ensure the ability to purchase additional coverage throughout their lives without the need for a medical exam. As they become adults, the cash value of the policy can be borrowed at a low interest rate to help with expenses such as education, a mortgage down payment or medical emergency. The child's parent or legal guardian needs to fill out the application, but funding a lifelong policy is a great way to help the child on your list to lay a solid foundation for their financial future.
Coverdell Education Savings
Higher education is certainly one of the largest expenses the child in your life will face. Establishing a Coverdell Education Savings Account can help them be able to reach their education goals after high school. Money can be added to the account over time by parents, the child and other relatives so that the account can continue to grow. Funds are available for a variety of education needs and unused funds can be rolled over to siblings or other relatives or even used for other purposes (with some tax penalties). The Coverdell Education Savings Account gives the student an established account to add savings to, such as birthday and graduation gifts as well as earnings from part-time jobs. Having funds available for higher education will set them up for future success and less lifetime debt.
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Traveling can be one of life’s greatest joys. However, packing smart can make or break your experience. With so many gadgets and accessories out there, figuring out what’s truly useful can be overwhelming. To help you streamline your packing list, here’s a guide to the most useful travel items that will enhance your adventures. 1. The All-Purpose Carry-On Bag A durable, well-organized carry-on bag is essential. Look for one with: Compartments: separate sections for clothes, electronics and toiletries Durability: waterproof or water-resistant materials for unexpected weather Mobility: wheels and an adjustable handle for easy transport This is a must-have item because it saves you from waiting at baggage claims and prevents lost luggage during flights. 2. Travel-Friendly Toiletry Kit Opt for a compact, TSA-approved toiletry kit with refillable travel-size bottles. Bonus points if it comes with a hook for easy hanging in small hotel bathrooms. Tip: keep a separate mini toiletry bag in your carry-on with essentials like toothpaste, face wipes, and lip balm to freshen up during long journeys. 3. Portable Charger and Universal Adapter Staying connected is crucial for navigation, translating apps and emergency calls. A reliable power bank ensures your devices stay charged, especially during long flights or train rides. Pair it with a universal adapter to charge your gadgets no matter the country you’re visiting. 4. Packing Cubes Packing cubes help you stay organized by categorizing your clothes and accessories. They also maximize space in your luggage. 5. Travel Insurance and Document Organizer Keep all your travel documents—passport, visas, insurance and itinerary—in a waterproof organizer. This can be as simple as a resealable sandwich bag. 6. Reusable Water Bottle Remember to stay hydrated! Plus, a water bottle with a built-in filter ensures you have safe drinking water even in remote areas. 7. Noise-Canceling Headphones Whether you’re on a noisy plane or staying in a bustling city, noise-canceling headphones can be a lifesaver. Invest in lightweight, wireless options for added comfort. 8. Eye Mask For long-haul flights or train rides, a comfortable eye mask can help you get some rest. 9. Compact First Aid Kit Accidents and illnesses can happen anytime. A small first aid kit stocked with band-aids, pain relievers, antiseptic wipes and any personal medications is a must. Tip: add items like motion sickness tablets and electrolyte packs for extra preparedness. 10. Multi-Function Travel Jacket Look for jackets with built-in storage—many designs come with hidden pockets for passports, phones, and even water bottles! These jackets are perfect for streamlining your essentials. Tip: if you’re going somewhere with a cold climate, consider bringing a large scarf that can also double as a blanket or wrap. 11. Daypack or Sling Bag A small, secure bag for day trips is essential. Choose one with anti-theft features like lockable zippers or RFID-blocking technology to protect your valuables. 12. Versatile Footwear Depending on your itinerary, pack a pair of lightweight walking shoes, sandals and waterproof boots. Opt for neutral colors and comfortable designs to match various outfits. Packing the right items makes your journey smoother and more enjoyable. Start with these essentials, and tailor them to your destination and travel style. Remember, the key to efficient packing is quality over quantity. Remember to focus on versatile, durable and practical items that suit your needs!
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