Cramer: Last Minute Gift Guide for 2008
It’s funny when you think about it. We just finished yet another election where the pundits droned on and on about how America is either “red” or “blue”.
Who knows and who cares? All I know is that on Wall Street, the only color that matters is green.
Why not green? It’s a perfect palette for a holiday season that is short on cash and long on creativity. In that spirit, Santa Cramer has a list, and he’s checked it twice, of holiday gifts that appeal to the wealth creator in all of us – even in these Grinch-like economic times.
So if you’re in the market for a last-minute gift idea, check out these stocking stuffers:
A session with a financial advisor. I’ll be honest, I’m a stock junkie and love the thrill of a well-researched stock that pans out. But there is more to wealth creation that just stocks, especially to regular folks who find it difficult to sock away even $100 a month into a retirement fund. That’s where a good financial advisor can help. He or she can advise you on ways to budget, provide good tax-cutting tips, tell you how to plan for the different stages of your life and recommend what type of insurance plan works best for you. They can also warn you about financial moves that personally drive me nuts: things like buying your employer’s stock, depending too much on your 401(k) and paying extravagant investment fees. If nothing else, a session with a financial advisor is a great wake-up call. The National Association of Personal Financial Advisors can get your search started.
Pre-pay someone’s tax preparation bill. No, I didn’t say pay their taxes; I said pay their tax preparation bill. The price of an average tax bill for an itemized Form 1040 is $205, according to the National Society of Accountants, and without itemized deductions the cost falls to $115. People have enough problems doing their taxes. Why not bring a smile to someone’s face by telling them you’ll get a professional to help, and you’ll pick up the tab? The National Association of Tax Professionals has a good way to find a local tax professional.
