PEORIA, Ill. — Grandparents are an important part of any family and on Sunday, many celebrated the knowledge their grandparents have given them.
They pass down recipes, give advice, and, of course, spoil their grandchildren, but some many want to think about their impact on future generations.
“Even though I’m an adult now, I’m still spoiled,” said Victoria Urbanczyk.
“They spoil their grand-kids more than they spoil they’re regular kids,” said Elizabeth Brown.
“Anything he wants, and even stuff he didn’t know he wants, he gets,” said Joshua Desir.
Grandparents can still show they care, by starting to save.
“If a grandparent has the excess funds available to them, they can begin to put money away for their grandchild,” said Kingdom Purposes Investment Planning founder Phil Cooper.
With the power of time and patience, money will start to grow.
“If you have time working on your side, compound interest is a major, major factor with investments,” said Cooper.
If you start young, planning for the future is an advantage.
“He’s got plenty of time, and he won’t touch it until he’s 18 if he does get something, then there’ll be a lot of good stuff for him,” said Desir.
As the cost of a college education rises, grandparents could help their grand-kids later on.
“One of the greatest financial burdens that we have in our country today is student loan debt,” said Cooper.
By making smart choices now, future generations could be set up for success.
“It’ll give them a boost, so whenever they do finish high school, and decide whatever they’ll like to do, they’ll have that extra money there…It’ll be there, it won’t be like an extra strain on them,” said Brown.