GOLDEN VALLEY - A growing number of parents are putting their finances at risk to make their kids' holiday wishes come true.
According to T. Rowe Price one-third of parents shelled out $500 per child last year. “Many parents are withdrawing money from their 401(k)s, dipping into their emergency savings, or taking out payday loans in order to purchase holiday gifts,” said Mike Kojonen, owner of Principal Preservation Services. “This is something that I never recommend.”
Instead of the usual holiday gifts Kojonen says he would like to see parents give gifts that last this year. Today on KARE 11 News at 11 Kojonen discussed four gifts that last: investing, cash, education and a Roth IRA.
Find more information on the Principal Preservation Services website.
Gifts that Last
- Roth IRA