@grow-pro, this is one of the most practical post I have read today about creating a better future.
I am trying to teach my kids good economical lessons. I will consider doing this for my children. I am a bit concerned about scaling since I have five kids.
I am please that my oldest like some of the Silver Pandas I had picked up a few years ago. She has made a decision to buy one each year with her own money.
I really appreciate that, @sumatranate. Thank you!
I think it's important to discuss economics with children and develop interest in saving. It's something, like you've mentioned already, that your children can do on their own. That's a beautiful thing to see - I'm sure it's greatly rewarding as a parent.
And wow! You're a blessed man, 5 kids! You might be able to modify the plan a bit ;)
If you are somewhat familiar with technical analysis / reading charts / trading - you could always purchase according to price. Essentially buying more at a lower price and gifting to the children later. It's beneficial if you feel the price will rise significantly in the near future.
I'll follow up this post with some creative ways for parents like you to create / amend this strategy to work for you.
Also consider that this plan is simply what I do - imagine if more grandparents, aunts & uncles, siblings, friends were to do this! Families can crowd-fund the strategy 😉 And have a few friends and family pitch in. Thankfully my kids are 2 1/2 and 4 so I'm still within a reasonable price range. I imagine 5 teenagers would be much more financially strenuous on me..haha
Thanks again for reading, your kind words and sharing your thoughts!