Help her arrange important documents
Make a financial checklist and a folder for your mother with a list of all the originals related to financial investments and insurance all stored in one place. This along with a list of who are the trusted persons to contact in case of financial and legal queries could be a great gift that she would cherish for a long time.
These don’t cost much but put in place certain basic items which could potentially provide peace of mind.
Teach her to go digital
People are shifting to cashless transactions and adapting to digital payment options. Your mother could be in her mid-age or may be a senior citizen and mostly could not know how digital transactions work.
ALSO READ: Follow your parents, grandparents’ lifestyle: Celebrity trainer
She could have fears while adapting to or learning digital payment options. Helping your mother to learn all the new ways would be a great gift. It will help her manage regular household payments and utility bill payments in a convenient way.
Give her a financial health check-up package
Gift your mother a financial health check-up package which will not only give her a better financial life but also boost her self-confidence with regards to management of her personal finances. We all know that most mothers at home have a habit of saving money.
She will be able to take her independent investment decisions in a better and informed way. Arrange a meeting for financial health check-up with a financial advisor/experts you trust in your network.
Gift an immediate annuity plan
Financial independence is important for everyone and at every age. Purchase an immediate annuity product for your mother. You can start a lifelong annuity for your aging mother (above 40 years of age) by placing a lump sum amount with the insurance company. While purchasing an immediate annuity plan you need to pay a single premium and thereafter your corpus plus earnings on it begin to get converted into a series of payments over a period of time.
These not so common but important Mother’s Day gifts are sure to make your mother smile.
ALSO READ: Build Fond Memories with right Family Trips
