Olde Hornet
Well-Known Member
http://www.schwab.com/insights/personal-finance/help-your-college-grad-become-investor?cmp=em-QYB
How can you help a young person start down the path to a lifetime of saving? Consider the following gift ideas:
1. Match savings contributions
Saving can be a hard to do on a small salary, but it’s such an important skill to learn. Encourage your new graduate to open a savings account to stash away money for an apartment, a new car or some other goal—and as an incentive, make the initial deposit and offer to match a portion of his or her contributions.
Keep in mind that taxes may apply on gifts, depending on the amount gifted. In 2016, you can give up to $14,000 per recipient without incurring the gift tax ($28,000 if you’re giving as a couple). Check with your tax consultant or the IRS website at www.irs.gov for more information.
How can you help a young person start down the path to a lifetime of saving? Consider the following gift ideas:
1. Match savings contributions
Saving can be a hard to do on a small salary, but it’s such an important skill to learn. Encourage your new graduate to open a savings account to stash away money for an apartment, a new car or some other goal—and as an incentive, make the initial deposit and offer to match a portion of his or her contributions.
Keep in mind that taxes may apply on gifts, depending on the amount gifted. In 2016, you can give up to $14,000 per recipient without incurring the gift tax ($28,000 if you’re giving as a couple). Check with your tax consultant or the IRS website at www.irs.gov for more information.