Meet the Quattrone Family: Joe and Barbara (mom and dad), Joe, Jenny, Kateri and beloved family dog, Allie.
Last year, this family decided to forgo buying traditional gifts for one another and instead take the money they would have spent on presents and pool it together to invest.
It was Joe who presented the idea to his parents and siblings after deciding that spending the money on items that people would forget about by March seemed to be wasteful. So, the ‘Family Fund’ was born. In the end they had just over $700 to invest in the stock market.
Joe says that by doing his research, having discussions with the family, and making smart selections they were able to turn their $700 into $5,000, in the course of a year. He added, however, that they were also able to take more risks because the money they invested was already set aside for holiday items and there was no great pressure.
The family is planning to cash out some stock in the near future and put that money towards a life-long family trip to Italy. Joe says his sister’s boyfriend and his family have also decided to start a Family Fund of their own this year. It might be something you consider as well. Of course, with anything, you’ll have to do your research and be realistic about your outcome.
For the Quattrone family, this is definitely one tradition they will continue. Check out their blog www.familyfund.wordpress.com for more on the Family Fund and a few other traditions the family has started¦Mimosa brunch anyone? We’ll drink to that tradition!
Happy Holidays.
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