I recently overheard a conversation between a set of grandparents and their daughter over what to get their granddaughter for her birthday. You can imagine the conversation, ‘She’s too old for dolls.’ and, ‘I think she’s a little too young for one of those.’
I’m not sure how the conversation concluded but I really wanted to step in and give my opinion.
Project forward now to that child’s 18th birthday and another conversation.
‘What if I told you I could have given you a birthday present that would now be worth well over a million pounds throughout your lifetime, one that would make your life easier, reduce stress and give you a happy and fulfilling life?’
That 18-year-old will wish for a time machine to go back and receive the gift they never got. It’s not a savings plan or share in a company, nor is it gold bullion. The gift that can make a lifetime of difference in so many ways is a good education.
This can mean many things – from a savings plan, started at birth, that pays for private school fees and even university, to simply providing opportunities to learn. This could be a book bought at the supermarket checkout; sitting as a family to watch a documentary, visiting a museum and more, all of which contribute to building up a treasury of skills that lead to academic success. Ultimately this can lead to a career rather than a job and, from this, more disposable income for holidays or experiences, or lead a more fulfilling life from having the disposable income to help others. Statistics show that the difference in lifetime earning potential between those who leave school at 16 and those who complete a degree can be as much as £3m.
So next time a family member asks what Amber or Jonathan would like for their birthday, think carefully what long term benefit that doll or scooter will have, compared to something that helps improve the life opportunities of your child and say ‘A good education, please.’
