As you frequent readers of our blog will know, both James and I are from Oregon. Well, we are back home to lay the ground work for our wedding. Since we are crashed at my twin sister’s place, we won’t get a chance to send you all the kind of detailed quality postings we normally do.
BUT, as we were flying across the country at 30,000 feet, we did discuss our finances and are considering the option of putting some of our financial gifts from our wedding into a ROTH IRA to hand down to our children. We think this would be a good use of the money and demonstrate the value of compound interest to our children. We’ll give you more details about what the steps will be to set this up, and more reasons why it is a good idea as we go through the motions.
Mostly we were excited to learn from David Bach’s ‘Smart Couples Finish Rich,’ that these can be passed down through generations, while increasing in value and without income tax exposure. James’ dad just brought us two bottles of wine that he bought back when James was born for $10-$13 a bottle, with the intention of giving them to him as a wedding gift. Now when we google them, they are worth $250 & $450. So I suppose this is our way of passing down this tradition.
Good Night!
Miel&James
Dual Income, No Kids launched in the spring of 2006 and is now part of District Media, LLC. With over 10 million visitors and syndication on Google News, District Media delivers high-quality personal finance news and advice. Our 58 blogs inform, empower, educate and entertain the public -- free of charge, with all operating expenses financed by advertising.
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