Most of my friends have kids and every year I find myself going to numerous kids birthday parties. I always have a good time at them catching up with my friends, playing with the kids, and eating good food. Plus, who doesn’t enjoy a good bouncy house!? I’m always amazed at number of toys the kids receive for birthday presents. I watch them open a present, play with the toy for a few minutes, then toss it into a large toy pile and move on to the next one. With my goddaughter Laila’s 4th birthday quickly approaching, I’ve decided to get her a present with a longer shelf life that will invest in her future and provide her with financial literacy. I’ve decided to skip the toy pile and go with Stockpile.
What Is Stockpile?
Stockpile is a fintech company that provides its customers with the ability to give the gift of stocks and ETFs. Stockpile offers 3 great options for gifting which include pre-paid physical gift cards, E-gift cards, or pre-selected shares of specific stocks and/or ETFs. It also allows individual investors the ability to purchase shares for their own investment portfolio. Stockpile is available online and through a user friendly app available on iPhone and Android.
Benefits Of Stockpile
One of the best things about Stockpile is that it allows you to buy fractional shares of 1,000+ stocks and ETFs. This makes it ideal for gifting because you can choose the $ amount that you want to gift and are not limited by the price of the shares. Most online brokerage only allow for the purchase of whole shares. Stockpile is free to sign up and has no monthly fees or minimums. Trades are only $0.99 which is incredibly cheap and much lower than the major online discount brokers (Charles Schwab, E*Trade, and Ameritrade). Stockpile also offers free dividend reinvestment.
The Gift Of Stockpile
Investing has been a passion of mine since I was little kid and Stockpile is going to help me share that passion with my goddaughter Laila. For her present I got her fractional shares of Facebook, Amazon, Netflix, and Google (Alphabet), collectively known as FANG stocks. As Laila gets older, I look forward to talking to her about money and investing and following how her shares perform. It feels really good to know that I’m making an investment in her future.