Growth for Gift
/When I was Life-Wealth planning, I would suggest to new grandparents, who were financially able, to set aside $20,000 for sixty-five years to help their new born fund retirement. It is always fun to project with the power of compounding. I would use a long-run return on common stocks and show them that their $20,000 would accumulate to about $3,000,000 using 8% per year. The numbers floored most. Compounding over time is astounding. Of course inflation will whittle away a bit of this. Better save than not though.
With the same notion in mind, having the luxury of acreage since 2015, I planted Black Walnut trees for my three grandkids. The intent was 100 trees that would be mature to harvest as my grandkids neared retirement. This created Walnut Way which provides joy for me - exercise, photos, and pleasure seeing nature’s life-force in action. I would probably have trouble harvesting because of my growing attachment. It’s funny because I have never had a residence more than a dozen years or so. There is a good possibility that the grandkids will not harvest for retirement. But you never know, someone may.
Retirement