Cyber Monday personal finance gifts to buy now – CBS News

From college savings plans to retirement planning and insurance protections, presents tied to personal finance are valuable long past the holidays.

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As the holiday shopping season heads into high gear with Cyber Monday, you may want to look for alternatives to expensive toys or physical gifts. Consider another kind of present – a financial one. There are plenty of ways to give generously besides a wad of cash or a check inside a holiday card. 

Start with a conversation, says Angela Furubotten-LaRosee, lead financial planner at Avea Financial Planning in Richland, Washington. Topics can include managing credit cards and savings, early career workplace benefits and managing the financial picture for aging parents or retirement. Bring up what you’ve learned from mistakes, too, she suggests.

“Families just don’t talk enough about the good, the bad, and the truth surrounding their own financial situation,” Furubotten-LaRosee said.

Cyber Monday personal finance gifts to buy now  

Once you’ve talked with your family, you may have a better idea of what makes a good gift. Here are a few suggestions from experts:

Financial planning

You can help a loved one straighten out their finances, plan for the future and even get their estate in order by hiring an online financial adviser or planner.

“For anyone that doesn’t already work with a CFP,  gifting time with one is ideal, especially this time of year and can help to begin the New Year on stronger financial footing,” said Melissa Sotudeh, a CFP and director of advisory services at Halpern Financial, a Washington D.C.-area firm.

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Estate planning 

Estate planning, ncluding wills, health directive preparation and life insurance can be a particularly useful gift. 

“It is something that most people put off and won’t buy for themselves,” said Mark Struthers, a certified financial planner with Minneapolis-based Sona Wealth Advisors.

Life insurance 

Life insurance payments can also make a good gift as part of financial planning at any age, including estate planning, experts note. Helping someone make payments to keep this protection may be appreciated.

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Contribution towards a Roth IRA

In 2022, the annual contribution limit is $6,000 a year or $7,000 a year for those 50 or older, so be conscious …….


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