Spark Gift (YC W15) – Give Stock as a Gift to Friends and Family
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Re: Spark Gift (YC W15) – Give Stock as a Gift to Friends and Family
#2Spark Gift founders here, happy to answer any questions!
We’re supporting fractional shares, so you can give a gift of as little as $20 of stock with just an email. You can receive a gift from family without giving up your SSN (unlike savings bonds or other investment gifts) so if you’re lucky enough to have someone who wants to give you or your children such a gift, you can do so with some privacy.
Re: Spark Gift (YC W15) – Give Stock as a Gift to Friends and Family
#3Related story:
Grew up receiving stock gifts from my grandfather who was a lifer at 3M. He gave us 10-15 shares of 3M or Medtronic every year for Christmas.
Unfortunately, when I turned 18 I sold it all (for something like $15-$20k) and wasted it during college. Had I kept it, with the splits and dividend reinvestments, it'd be worth roughly $150-$200k now. Would have paid for my kids schooling.
Giving stock is a great gift, if you also take time to help teach responsibility, otherwise you're just handing them a post dated check.
Re: Spark Gift (YC W15) – Give Stock as a Gift to Friends and Family
#4Related story: Grew up receiving stock gifts from my grandfather who was a lifer at 3M. He gave us 10-15 shares of 3M or Medtronic every year for Christmas. Unfortunately, when I turned 18 I sold it all (for something like $15-$20k) and wasted it during college. Had I kept it, with the splits and dividend reinvestments, it'd be worth roughly $150-$200k now. Would have paid for my kids schooling. Giving stock is a gre…
It's a great point. I think people are getting better about teaching kids about finances, but it's still a difficult conversation for some. Kids receive many signals about how to be a consumer, but perhaps could benefit from more focus on how to make something, grow something, save or invest. Thanks for the feedback, it's something people have mentioned to us and will guide how we message kids about gifted stock, and which educational materials we develop.