Let’s face it. Buying meaningful gifts for our family and friends is really, really hard.
If you want to give something that has a larger impact long after the holiday season has passed, why not give the gift of financial knowledge and wisdom for living a fulfilled life?
Given the academic background of our firm, we know the following is going to be a big shocker:We really love reading books and giving books as gifts!
Below you’ll find our 2021 Guide to Gifts That Pay Off.
It’s full of our 23 favorite money-related and living-big gift recommendations for those ages 4 to 94!
Let us highlight a couple of our new recommendations this year:
The Total Money Makeover (Dave Ramsey) A proven plan for financial fitness
We love giving this book out to our clients for their adult children. And we like to give these out as graduation and wedding gifts with a $100 bill tucked inside. About 80% of this book is really good, but we (and history) may not agree with perhaps the other 20% (e.g., unrealistic investment return assumptions; over-reliance on growth investments; unsustainably high withdrawal rates in retirement). Nonetheless, Mr. Ramsey does a great job of teaching the basics of money.
The Price You Pay for College (Ron Lieber) An entirely new road map for the biggest financial decision your family will ever make
One of our savvy clients in Washington, D.C. brought this 2021 book to our attention and it’s excellent! This book discusses why college costs so much, digs into the allure of elite schools, uncovers hacks that may not really be hacks, and talks about how to plan and pay for college.
Knocking on Heaven’s Door (Katy Butler) The path to a better way of death
While it can be very difficult, having tough conversations about end-of-life care well in advance can help our dying loved ones cope later on. We have the ability to cultivate a “good death.” Give this book to your parents if they are still living and discuss it with them. And depending on your age, give it to your spouse and discuss it with them.
Retirement Heaven or Hell (Michael Drak et al.) 9 principles for designing your ideal post-career lifestyle
Don’t be fooled, the transition to retirement is a very difficult transition for many. To retire well you need enough purpose to wake up in the morning and enough money to sleep at night. Taking the time to read this book, reflect, explore, and be intentional will mean the difference between ending up in “retirement heaven” and “retirement hell.”
So what is the ultimate gift of 2021?
Life-changing wisdom about managing your money and living your best life that you can give to those that you truly care about!