At Christmas we tend to think of gifts as something immediate: a toy for the kids, a jumper, a one-day experience. But there are gifts with a much longer-lasting value, capable of staying with whoever receives them for years, even a lifetime: experiences that endure, skills that develop, investments that protect the future. Christmas is the perfect moment to plant a seed that will grow over the years — for the people we love, but also for ourselves.
The paradox of gifts that last
Here's the paradox: children remember a day at the science museum or a cooking class far better than yet another toy forgotten within a week. The same is true for adults. Experience-based gifts are the ones that stay in the memory: a weekend in an art city, a pottery workshop, a photography course, cooking lessons for young chefs. It doesn't take a large budget: even an annual pass to a nature park or a theatre ticket can make a difference. Research shows that experiences stimulate creativity, support learning and build stronger bonds than material objects. A child who takes part in a music camp or a robotics workshop isn't just "doing something" — they're developing skills they'll carry with them for life.
Which gift grows over time?
For those who want to build something more substantial, there's a tool we recommend often: a Piano di Accumulo (a periodic savings plan) paired with a pension fund. The savings plan works like this: a fixed amount — even 50-100 euros — is invested every month in funds or ETFs. Time works in the investor's favour, and thanks to compound interest, even small contributions turn into meaningful sums: the more years ahead, the better.
The real ace up the sleeve, though, is the pension fund. Contributions are tax-deductible up to €5,300 a year, which translates directly into a lower tax bill. Final taxation, moreover, starts at 15% and drops to as low as 9% after fifteen years — one of the most tax-efficient instruments available. There are constraints, of course — you have to wait at least eight years to access the capital — but that's also its strength: it forces long-term thinking, without the temptation to spend it all straight away. Many of the families we work with have opened a pension fund for their children at birth, contributing €100-150 a month: by the time the child turns 18, they'll have a meaningful capital sum for university, a first home, or simply a strong start in life — while the parents, in the meantime, will have saved thousands of euros in tax.
A gift for yourself too
Here's the part that's often forgotten: it's good to think of others, but not at the cost of forgetting yourself. It might sound obvious, but how many people actually stop to ask themselves: "what am I giving myself for my future this year?" We're not talking about the usual post-Christmas impulse buy, but something that in 10, 20, 30 years will make you glad you did it. It could be a training course in something you've always put off. It could be a small savings plan, even just €100 a month, started not for the children or the family, but only for yourself. It could be a complete financial check-up, to understand where you stand and where you want to go.
We often see people who invest everything in their children, their home, in others, forgetting to build something for themselves — and then, reaching 50 or 60, they realise they have no cushion, no security, no freedom of choice. Thinking about your own future isn't selfish: it's responsible. This year, under the tree, it's worth leaving a gift for yourself too — it can be small, it can be symbolic, but it should be something that moves you closer to the future you want.
Christmas is magic, tradition, sharing. But it can also be a chance to plant something that will grow over time. There's no need to overhaul everything: even a small step in the right direction makes a difference. Give a child an experience, open a savings plan for a grandchild, and don't forget to invest in yourself too — because the best gifts aren't the ones used up in a day, but the ones that build tomorrow.
Glossary
- Savings plan (Piano di Accumulo Capitale, PAC): an investment tool involving periodic contributions — monthly or quarterly — of a fixed amount into funds or ETFs. The advantage is that you keep buying during downturns too, lowering the average cost over time. Example: contributing €100 a month for 18 years into a global equity fund means that, even as markets rise and fall, over the long run you capture the market's average growth with risk spread out over time.
- Compound interest: the mechanism by which you earn returns not only on the initial capital, but also on the interest already accrued. Example: investing €100 at 5% a year, you reach €105 after the first year; in the second year the 5% is calculated on €105, not €100, reaching €110.25. The longer the time horizon, the more powerful the effect — it's the difference between ending up with €10,000 or €30,000 after 20 years with the same contributions.
- Tax deductibility: the ability to subtract a certain amount from your taxable income before tax is calculated. Example: with an income of €30,000 and a €3,000 contribution to a pension fund, taxable income drops to €27,000, meaning less tax is due. At a 38% tax rate, that's a saving of around €1,140, which can be reinvested or used for other purposes.
