During the holidays, it’s a time of giving—and sometimes sorting. For example, this past week, I sorted my closet and gave away 10 bags of clothing, purses, belts, scarves and shoes. I did a quick reckoning and calculated that the original value of those items was a cool $1000. Many of those giveaways were once gifts from friends and family. I couldn’t help but think, “What if I was gifted with money in a savings account or an investment fund instead?” The answer is: “You’d be a lot better off and your investment would have earned money instead of ending up in a giveaway bin.”
This year, why not take $500 and open an investment account for someone you love? Give the gift of investing by getting a loved one a start in this key area of financial responsibility. Recently on The Money Millhouse, we hosted Brenna Casserly. Brenna Casserly is CEO and Co-Founder of Emperor Investments, a Toronto-based robo-advisor.
She helped us understand a lot about Emperor and how they work as well as other investment terms such as an ETF. Brenna said, “Think of an ETF like a black box. When you open the box you notice that it is filled with some really great companies and others not so good. When you buy an ETF, you buy the entire black box and unfortunately cannot just pick out the companies you wish to own.”
One of the reasons we like Emperor Investments is that Emperor was founded on the notion that investing is highly personal. Over the course of the last decade, Brenna and co-founder, Francis Tapon, have developed proprietary technology that builds personalized portfolios. This means you don’t have to know everything there is to know about investing, you’ll have a partner at Emperor who will help you decide which fund is best for your investment style and your financial needs.
For a limited time, you can open an account at Emperor and our non-profit, Heroes at Home, will benefit from your new account if you use this link to Emperor Investments for the Money Millhouse. We believe in this kind of investing so much that we gifted an account to others who need help in just getting started.
So instead of giving your friend or family member gifts that will end up in the giveaway bin in just a few years, give them an investment account that will be worth more than your original investment in a few years. The gift that will keep on giving.