Supply Chain Bottleneck

I was in Target the other day looking for Halloween ideas, and I was shocked at the number of empty shelves.  There were at least four long aisles of open shelving where Halloween supplies and costumes would usually be.  Unfortunately, this trend is not going away anytime soon.  According to Jonathan Gold, vice president of supply chain policy at the National Retail Federation, “…We’ve been warning consumers to manage their expectations for the holiday shopping season for months now.  The fact of the matter is the supply chain is stretched to its limit from end-to-end.”  [1] This reality prompted me to think of gift ideas that don’t need shipping.

 Here are ten ideas, with a financial twist, that don’t require shipping:

1.     Open and contribute to a Roth IRA on behalf of your minor child. There are rules to follow, so check out this Fidelity Roth-for-kids article. https://www.fidelity.com/retirement-ira/roth-ira-kids

2.     For the newlyweds, consider gifting a Money Smarts Program such as Dave Ramsey’s Financial Peace University: https://www.ramseysolutions.com

3.     Gift a financial magazine like Money, Forbes, or the Wall Street Journal in the recipient’s name.  This is a gift that keeps on giving.

4.     For the budding entrepreneur, visit your local bookstore and gift a book such as:

•      The $100 Startup by Chris Guillebeau

•      The 7 Habits of Highly Effective People by Stephen Covey

•      The Lean Startup by Eric Ries

•     Crush It!: Why NOW Is the Time to Cash In on Your Passion by Gary Vaynerchuk

5.     Gift a financial book to your grandchild or teenager: https://grow.acorns.com/best-money-books-for-kids/

6.     Gift some cryptocurrency.  Visit: https://www.coinbase.com

7.     Gift an hour with a local financial planner or give an entire financial plan.  Be sure to find a fiduciary financial advisor and check this website before hiring any advisor:  https://brokercheck.finra.org

8.     Donate to a favorite charity on behalf of your recipient.

9.     For your grandchildren, open a 529 account for their higher education.  

10.  Open a https://mint.intuit.com account for your young adult to help them track their spending and budgeting.

[1] https://www.msn.com/en-us/money/markets/why-the-supply-chain-is-in-crisis-spurring-an-everything-shortage/ar-AAPNu8J

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