Thinking about setting up my kids with some silver - good idea or am I overthinking?
- •We’re in Boston, so COL is always a factor, and I want to make sure they have a solid foundation.
- •I started thinking about silver, specifically silver coins, as a tangible asset to pass down.
- •Not as their primary investment, of course, but as a small, meaningful addition.
Okay, so I’ve been really diving into legacy planning lately, and naturally, my mind goes to how I can best set up my two kids (both in their early 20s) for financial success down the line. We’re in Boston, so COL is always a factor, and I want to make sure they have a solid foundation. My portfolio’s definitely diversified, probably in the $700k range right now, and a decent chunk of that is in gold, which has treated me well over the years.
I started thinking about silver, specifically silver coins, as a tangible asset to pass down. Not as their primary investment, of course, but as a small, meaningful addition. I’m picturing a small hoard of Eagles or Maples for each of them, something they can hold onto and understand the value of, perhaps as a hedge against inflation or just a cool, tangible asset. My thinking is, it’s not going to make or break their finances, but it's a way to introduce them to precious metals outside of just checking a stock ticker.
My concern is whether it's more of a sentimental move than genuinely strategic. They're both pretty financially savvy for their age, but I wonder if they'd just see it as "stuff" rather than a valuable asset. Are any of you doing something similar with your kids or grandkids? And if so, what kind of silver are you going for? Any advice on how to frame it with them so they appreciate it for what it is?