CNET también está disponible en español.

Ir a español

Don't show this again

Oscar Isaac to play Snake 2021 Ford Bronco delayed Walmart drone holiday light show Fauci to join Biden's COVID team Mulan free on Disney Plus The Mandalorian episode recap PS5 inventory

Goalmine lets you give the gift of mutual funds (podcast)

Goalmine.com enables users to purchase mutual funds as a gift for as little as $25 plus a $2.95 fulfillment fee. Larry Magid talks with its co-founder about the service.

Goalmine lets you pick a goal and am amount to give. Goalmine.com

If you're looking for a last-minute holiday gift, consider something that never goes out of style. It's called money.

Of course you could just write a check or hand over a wad of bills but, aside from some people considering that tacky, chances are that it will be used right away and long forgotten.

Another option is to give someone a savings bond, a gift certificate for a micro-loan from Kiva or Microplace, or start them out with a mutual fund from Goalmine.

With Goalmine, you go to the site, select "Buy a GoalPack," pick a goal, such as education, home, baby, car, retirement, etc. and fill in details including the amount of the gift (minimum $25). In addition to the gift itself there is a fulfillment fee of $2.95 for a $25 gift or $3.95 for $100 or more.

The recipient must be over 18. It's a little more complicated, but it is possible for an adult to set up a Uniform Trust for Minors Account" (UMTA) if the funds are for a child.

For more about how the service works, I spoke with Rimmy Malhotra, chief investment officer of Gratio Capital, the parent company of Goalmine.com

Listen now


Subscribe now: iTunes (audio) | RSS (audio)