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Started By
Message
Appropiate Financial Wedding Gift instead of Cash
Posted on 5/8/14 at 7:02 pm
Posted on 5/8/14 at 7:02 pm
My brother in law is getting married. Rather than buying some china or something for he and his new bride's home, I want to get him something that will help him get off on the right foot financially.
He's got a masters in accounting and works at a Big 4 accounting firm. He has a good slaty for a 26 year old. The trouble is I see him making some stupid financial decisions and he's just a couple years out.
Another back story is that my in laws (his parents) are probably the worst financial minds in the universe. Case in point, they are 2 years from retirement age and have nothing saved. My mother in law hasn't worked in 30 years so has very little social security coming.
He just hasn't been around people that know how to take care of money. I wish I had the first three years of my marriage back financially.
I thought about a small library of financial books with a $1000 check stuffed in the pages, but my wife said he'd probably blow that $1000 on his honeymoon in the casinos of the Cartibbean. Is there a product that anyone recommends that would help this.
Sorry if belongs on the OT - but I respect the overall financial wisdom of this board is greater than that of the OT ballas.
Or should I just suck it up and buy him something for his house. A nice grill or something.
He's got a masters in accounting and works at a Big 4 accounting firm. He has a good slaty for a 26 year old. The trouble is I see him making some stupid financial decisions and he's just a couple years out.
Another back story is that my in laws (his parents) are probably the worst financial minds in the universe. Case in point, they are 2 years from retirement age and have nothing saved. My mother in law hasn't worked in 30 years so has very little social security coming.
He just hasn't been around people that know how to take care of money. I wish I had the first three years of my marriage back financially.
I thought about a small library of financial books with a $1000 check stuffed in the pages, but my wife said he'd probably blow that $1000 on his honeymoon in the casinos of the Cartibbean. Is there a product that anyone recommends that would help this.
Sorry if belongs on the OT - but I respect the overall financial wisdom of this board is greater than that of the OT ballas.
Or should I just suck it up and buy him something for his house. A nice grill or something.
This post was edited on 5/8/14 at 7:04 pm
12
Posted on 5/8/14 at 7:14 pm to anc
Get him a green egg. I wouldn't give him cash
Posted on 5/8/14 at 9:07 pm to anc
Maybe 20 silver eagles? I'd appreciate that.
Posted on 5/8/14 at 9:18 pm to anc
You sound like a lot.
He has an MS in accounting and works big 4. I'm sure he's not completely financially inept.
He's 26 and newlywed. Quit being that person and get him what he wants.
He has an MS in accounting and works big 4. I'm sure he's not completely financially inept.
He's 26 and newlywed. Quit being that person and get him what he wants.
Posted on 5/8/14 at 10:47 pm to anc
He prolly wouldn't appreciate your inference (correct and as well-meaning as it may be) that he's an fiscal idiot spawn of fiscal idiots. Just give him something household-ish, the BGE was a good suggestion. While the Silver rounds would be cool, they're negotiable, a BGE is not easily liquidated.
He's not your kid, even though there may be collateral damage to you because he is a poor money manager.
Good luck.
He's not your kid, even though there may be collateral damage to you because he is a poor money manager.
Good luck.
Posted on 5/9/14 at 8:05 am to anc
If he plans on having kids what about starting them a college fund?
Posted on 5/11/14 at 9:03 am to anc
I'm hoping someone has a few decent ideas about this that I can use when my sister gets married
Posted on 5/11/14 at 9:04 am to The Easter Bunny
Open a 529 like someone said.
Posted on 5/11/14 at 9:13 am to anc
The Dave Ramsey materials are what you are describing. It's helps people understand and fix their financial issues.
Web site
This maybe a good option of his
Be aware that they may not appreciate, and may even take offense to the gift, but it is helpful info. I think there are books and info for newly married couples.
Web site
This maybe a good option of his
Be aware that they may not appreciate, and may even take offense to the gift, but it is helpful info. I think there are books and info for newly married couples.
This post was edited on 5/11/14 at 9:19 am
Posted on 5/11/14 at 10:43 am to soccerfüt
quote:
He prolly wouldn't appreciate your inference (correct and as well-meaning as it may be) that he's an fiscal idiot spawn of fiscal idiots. Just give him something household-ish
Yep. When he's ready and willing to change, he may seek out advice from you and your wife. Don't put a damper on his big day.
Posted on 5/11/14 at 10:51 am to Bayou Tiger
Get him a crock pot and forget about it.
An accountant knows about personal finance and makes decisions with that knowledge. You may not agree with them but it is not your life is it?
An accountant knows about personal finance and makes decisions with that knowledge. You may not agree with them but it is not your life is it?
Posted on 5/11/14 at 3:37 pm to I B Freeman
While his parents may make poor financial decisions, i find it hard to believe that he doesnt already have financial common sense with a masters in accounting.
Dont insult him.
Dont insult him.
Posted on 5/11/14 at 5:02 pm to anc
Get him a grill and mind your own business.
Posted on 5/11/14 at 5:43 pm to anc
quote:
He's got a masters in accounting and works at a Big 4 accounting firm. He has a good slaty for a 26 year old. The trouble is I see him making some stupid financial decisions and he's just a couple years out.
This seems highly inconsistent. I used to fit the first sentence exactly and obviously had friends who did as well. If they were good enough to work for Big 4, they were very likely to be financially sound. But if not, he will likely find a way to spend whatever you get him. He'll figure it out eventually, but he'll have to do it on his own.
Posted on 5/11/14 at 6:26 pm to LeonPhelps
You might consider getting him the book Rich Dad, Poor Dad. He is smart and, as an accountant, the financial quadrants section could very well make him see the light.
Posted on 5/11/14 at 9:24 pm to LeonPhelps
quote:
You might consider getting him the book Rich Dad, Poor Dad
No, then he will think the OP is a condescending a-hole. Same with the Dave Ramsey books.
I think you just should get him something durable and useful that he would otherwise have to buy on his own.
This post was edited on 5/11/14 at 9:25 pm
Posted on 5/12/14 at 7:25 am to anc
Buy them something from the registry. Don't overcomplicate this. I just recently got married and moved into a new home, and we haven't had to buy anything for it thanks to our registry. We appreciate every last thing off it, even the little $5 kitchen gadgets. Stick with that for a wedding gift.
Posted on 5/12/14 at 8:15 am to LNCHBOX
We were given Financial Peace University as an engagement gift...best thing anyone could have given us.
Posted on 5/13/14 at 7:05 am to LNCHBOX
quote:
Buy them something from the registry. Don't overcomplicate this. I just recently got married and moved into a new home, and we haven't had to buy anything for it thanks to our registry. We appreciate every last thing off it, even the little $5 kitchen gadgets. Stick with that for a wedding gift.
Fiancé and I have amassed gifts from two showers and our guest bedroom closet is half-full. It is a great feeling knowing that we'll be able to focus our money on savings/retirement/our home once we are married and not spending another $100 out of every check on some home gadget we need to have.
I too was big 4 auditor, saw the light and now work in their consulting branch, sounds like it's more a matter of his maturity than knowing about financial solvency, so please don't insult them. We all absorb that lesson pretty well, between that and my parents I'm fortunate to have been taught early on to live within my means. I may have been pretty irresponsible up to age 27 or so, but never dug myself into a hole.
Maybe consider paying for an appointment with financial planner if you are deadset on some sort of financial knowledge transfer.
Posted on 5/13/14 at 7:42 am to Larry Gooseman
quote:
Maybe consider paying for an appointment with financial planner if you are deadset on some sort of financial knowledge transfer.
He's 26. He likely has no real assets to speak of, getting married, and buying a house. Let him get settled in to his role, understand where his finances are, and if he even has a need to speak with a consultant.
At 26 I was putting 8%(+match) in to 401k and that's it. Could I have done more? Sure. But, I wanted to travel, go to nice restaurants, and anything else I could find to spend my money on that was fun. Don't regret a bit of it. 401k is still in great shape. Some people are so focused on their "golden years" they miss out on enjoying the other 60% of their life.
If you find out he's living beyond his means, racking up debt, and financially clueless(which I can't say I've met many accountants that are), then approach him with your advice, but I'd kick my brother in-law in the arse if he gave me a financial advice book for a wedding gift.
This post was edited on 5/13/14 at 7:43 am
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