Christmas Gifts That Aren't Toys

What do you give a kid who already has everything?

Eventually, you reach the birthday or Christmas when the answer to "what do they need?" is not much.

The toy bin is full. Last year's gifts are still around.

That's when experiences, savings, and investment gifts start to become more appealing. The challenge is making a financial gift feel like a gift to the child receiving it.

Should you replace toys with an investment?

You don't have to.

A simple approach is to give your child something they can open along with money for their future. That could be:

• A small toy or book plus a contribution to an existing account
• An experience plus money added to savings
• A share of a company they recognize
• A contribution to a 529 or custodial investment account

The amounts don't have to be equal. The point is to give your child something they can enjoy today while also setting aside something for later.

How do you make an investment gift feel real?

Make it visible.

If you contribute to an investment account and never mention it again, your child may not even know the gift exists.

You could put a card under the tree explaining what was given. For an older child, show them the company or investment they now own. For a younger child, keep the explanation simple:

"We put some money into your account so it can be there for you when you're older."

Then show them the account again later. That turns a one-day gift into something they can follow over time.

What financial gifts can you give a child?

A few options can work, depending on what accounts already exist.

Contribute to an existing account. If your child already has a 529, custodial account, or savings account, adding to it may be the simplest option. Check with the account owner or provider for contribution instructions.

Gift stock. You can also give shares. The process depends on where the shares are currently held and where they're going. If you're transferring between brokerage firms, you'll usually need account details and identifying information for the recipient. How to gift stock to a child covers the three routes and what each one needs.

Give an experience. An experience can also solve the too-many-toys problem. That might be a trip, an event, a class, or an activity your child can enjoy without adding something else to the house.

What if you're a grandparent or relative?

Ask the parents what already exists.

They may already have a 529, custodial account, or savings account for the child. If so, they can tell you whether contributions are possible and how to make one. They may also prefer an experience, a book, or something else entirely.

A quick conversation can prevent you from opening another account when the family already has one set up. There's more in investing for grandchildren and what to do with birthday and holiday money.

How early should you plan a stock gift?

Give yourself some extra time.

A brokerage may need information about the receiving account, the child, and the custodian before shares can be transferred.

Transfers between accounts at the same institution may be relatively quick. Transfers involving different firms can take longer. If you're planning a holiday or birthday gift, don't leave the setup until the final day.

Where MemoryBank fits

MemoryBank helps make financial gifts visible after the wrapping paper is gone. Families can connect supported savings and investment accounts they've already opened and give their child a simpler view of what they own. That makes a contribution to an existing account easier for a child to understand and follow over time.

MemoryBank is not a brokerage. It cannot receive, keep or transfer securities.

If you want to give something through MemoryBank itself, that's a gift plan — a paid subscription that arrives as a redemption code and a printable card, which is the part that goes under the tree.

What should you do next?

Before buying another toy, ask whether your child already has an account you could contribute to.

If you're giving money or investments, decide how you'll explain the gift, and give your child something physical to open if that matters to your family.

And if you're transferring shares, start the process early enough to handle any brokerage paperwork.

Frequently asked questions

What can I give a kid who already has everything?

An experience, a contribution to an existing savings or investment account, or a smaller physical gift combined with money for their future. The combination tends to work best, because a child still gets something to open on the day.

Is investing money a good Christmas gift for a child?

It can be, as long as the child knows it happened. Younger children understand the gift better when it's paired with something physical and when someone shows them what was added to their account afterward.

How do I make an investment gift feel like a real present?

Put a card or note under the tree explaining the gift, so there's something to open. Then show your child the account or the investment afterward so they can follow it over time. A contribution nobody mentions again isn't a present to a child.

Can I gift stock to a child for Christmas?

Yes. Shares can be transferred into an appropriate account for a minor, usually a custodial account. The exact process and timing depend on the brokerage firms involved, and the child will need an account before anything can move into it.

How long does it take to gift stock?

It varies. Transfers within the same brokerage may take only a few business days, while transfers involving another firm can take longer. If no custodial account exists yet, opening one comes first, so start well before the date you need it.

Can I give a MemoryBank plan as a gift?

Yes. A MemoryBank gift plan is a paid subscription that arrives as a redemption code and a printable card, so there's something to hand over. It suits a family that already has accounts open for their kids and wants a kid-friendly way to view them.