If you’re running out of ideas for gifts this holiday season, stock gift cards may be a viable option for you.
America’s Wealth Coach Deborah Owens appeared on NewsOne Now to explain how investment gift cards can make a great gift this holiday season.
Owens told guest host Catalina Byrd, “Innovation has arrived, because now it is really easy to gift stock for Christmas.” She continued, the old school way of gifting stocks involved “opening up an account, getting a uniform gift to minors, now you can get a gift card and it’s transacted after you give it to the person.”
This new way of gifting stocks, “eliminates a lot of the paperwork that were barriers to giving the gift of stock,” said Owens.
The financial guru suggested three companies to facilitate the giving of stocks that she believes are “really doing this well.”
WealthyU Gift of Investing List:
Stockpile: Minimum Gift: $1 Transaction Fee: $.99
[From Stockpile.com] A Stockpile gift card has a fixed value, and is redeemable for stock or a retailer gift card. It is not a stock or other security, or a recommendation to buy any specific stock or other security. If you redeem a Stockpile gift card for a security, you will receive fractional shares whose value will go up and down with time. To redeem a gift card for a security, you must apply and be approved for a Stockpile Investments brokerage account unless you already have one. If you are under 18, you will need to open your account with an adult.
Stockpile gift cards are issued by Stockpile Gifts, Inc. All securities are offered to self-directed investors by Stockpile Investments, Inc., registered broker-dealer and member of FINRA and SIPC. Stockpile Gifts and Stockpile Investments are wholly-owned subsidiaries of Stockpile, Inc. All investments involve risk, including possible loss of principal. Past performance of a security, market, or financial product does not guarantee future results. Electronic trading poses unique risk to investors. System response and access times may vary due to market conditions, system performance, and other factors. Market volatility, volume, and system availability may delay account access and trade executions.
Loyal3: Minimum Gift: $25 Transaction Fee: None
[From Loyal3.com] Our mission is to make it easy and affordable for people to own the brands they love. Own What You Love® reflects this principle.
No fees charged for enrollment, transactions, or account transfer, and no minimum account balance. Maximum purchase generally $10,000 per transaction and $20,000 per month for each stock. Purchases include fractional shares. Since LOYAL3 uses a daily batch or combined order process, and typically executes trades only once per day, your price may differ, perhaps significantly, from the market price when you place your order. You agree to receive all communications electronically.
Gift of College: Minimum Gift: $25 Transaction Fee: None
[From GiftofCollege.com] GiftofCollege.com was born when founder Wayne Weber discovered just how complicated it can be to donate to a college savings account. Wayne designed an innovative social savings platform that makes it easier than ever for friends and relatives to help parents save for a child’s college education.
By transforming the way that parents, relatives and friends think about saving for college, GiftofCollege.com has created an easy, fun, social way to contribute to a 529 plan using a credit card. Parents who are stressed about the need to save tens of thousands of dollars for their child’s college education can enlist friends and relatives to help with this critical task.
Watch America’s Wealth Coach Deborah Owens, guest host Catalina Byrd, and the NewsOne Now panel discuss gifting stock for the holidays in the video clip above.
Subscribe to the “NewsOne Now” Audio Podcast on iTunes.