Help: Savings Stash Recommendations For Newborn Boy

Hey, no problem!

The smaller bars would be great but I have to say that the 1/4 oz. Maples would also be great... they really are beautiful coins for sure. Whichever way you go, though, this will be an awesome gift that I am sure he will very much appreciate.

It is also good to have the Mrs. on board with the idea. That will help a great deal as the years roll by.

This forum is full of thoughtful parents/grandparents! Let's hope the youngsters turn out to be "worth" the effort :)

My father's starting a RESP for my boy. I'm curious which one of us will do better 18 years later :)

I suppose it's a Canadian thing then.
RESP = Registered Education Savings Plan. Basically a tax-sheltered savings/investment plan that matures when the kid attends post-secondary institutions. Tax deductible for the contributor (the Canadian gov also contributes a nominal amount each year) so that the income taxes are passed onto the student when the funds are eventually used. And, since student's don't usually have much income, there's a net reduction of taxes for the family as a whole. RESP plans with banks or other companies also pays interest on the savings based on their earnings, usually in the range of conservative mutual fund returns.

Yes and now the trades are so overlooked that by the time he gets of age he will be needed to work with his hands! I think part of tjhe problem now with college ed people without out jobs has to do with kids all that not interested inb college going just to go or that parents want them to and really they love working with their hands or something else not college oriented. Everyone isn't meant to be a college person. Not to worry. I'm sure he will do fine!

"higher" education means very little in my books. If my kid don't have a strong desire to get into academics or professional trades like medicine, law, engineering, etc, IMO there's no reason for university. It's true that university training forces one to familiarize oneself with a broader range of knowledge, level up one's reasoning ability and base knowledge so to speak, but talking to some university grads these days do not have me convinced that that's worth $20,000 a year x 3~4. Besides, a there's little that junior level university courses can teach that one can't learn on one's own with some discipline. Better to jump into a trade and learn the life lessons hands on instead of coming out 4 years later waist deep in debt and "over educated"

To go back on topic, this is one of the reasons why I'm stacking coins instead of putting money into an RESP (RESPs are forfeited if the kid don't take any form of post-secondary education). I'm sure my little one will end up in a polytechnic or college if not university, but would much rather just give him the money and the choice when the time comes. Here's the gold, do with it what you will.

Pandas are too collectible, if there is such a thing, in my view. I would much rather share the hunt with the boy as oppose to secretly stacking pandas

That is a fact but it is also one that many people deny. I would far rather my grand son be a great mechanic who is happy with his work than an unhappy and lousy accountant or whatever. Pressuring kids to do what the parents want them to do rarely ever works very well. What does work is to let the kids know that it is up to them as to what they do for a living and that the family stands behind their decision, whatever it may be.

Buying a set amount each month is a "dollar cost averaging" approach where one buys more metal when prices are low and less when it is high. This results in a lower per oz. cost. Many of us on here do just that but we also recognize a good sale on metals when we see it. When that happens, it does not disrupt our regular buying schedule but we do tend to buy more when prices are down, if we can.

Sense you are essentially making a nest egg investment for your son that will be long term at least 15 years I would go with Silver over gold personally. That time frame is well over the projection marks for physical silver drying up and its supply becoming scarce.

As for what to get him, just focus on paying the lowest premium possible.