Friday, September 17, 1999
The Million Dollar Baby
My Million Dollar Baby girl was born last week. She is my first child and I am smitten.
When I called my father he eventually talked about starting a DRP investment for her. "What do you think about Wal-Mart?" he asked. I knew he had picked the same investments for my niece and nephew, so I quickly suggested Disney. "As she grows up she will identify with Disney. She'll pay more attention to the investment." I answered. After I hung up I daydreamed about taking my daughter to Disneyland (I'm a big kid about Disneyland!). Also, I thought how fun it will be to use Disney as a teaching tool for investing (I'm a big kid about stock investing). Shortly afterwards I spoke with my father-in-law regarding his investment plan for my daughter.
My wife and I have been investing in stocks for years now. (Thank you, Fools, for your clear advice.) Because of our steady investment program, we have no doubts that my daughter will be well taken care of in her adult years. Heck, with a little stretch of the time-value imagination she really is a Million Dollar Baby! (Of course, today she is simply priceless.)
Funny thing, my brother does not seem as thrilled about the DRP investments our father provides to his children. Mind you, my brother understands the value of early investment for children. But he explains that the investment gifts are not intimate. He would rather she receive an occasional toy or book.
But I think the gift is intimate and I think it is everlasting. Consider these values: The gift will launch my daughter's investing lifestyle. It will reinforce the investment education that I plan on providing her. It will instill a family tradition toward investing. Finally, the gift will assure that this tradition is passed on to her children.
I have no doubt that my child will be financially well off. She won't need her grandparents' investments to guarantee that. But I wonder if my child will be financially savvy. For that I need her grandparents' help. That is why their investment gifts are so valuable. They are indulgent, they are intimate, and they are the perfect for my Million Dollar Baby. Thanks, granddads!
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