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Graduation season has come and gone, but let me take a few minutes to look back at an experience I had earlier this month. We had several friends and family members celebrate their graduation this June -- a few in high school and one in college.

It got me thinking:

1. What would be a good graduation gift?

2. How ready will MY kids be when they graduate from high school, and college?

First, about the gifts. I came very close to buying financial books for the grads we were honored to celebrate. Since they were all girls, I figured Suze Orman books would do the trick (and there are certainly plenty from which to choose). We wound up giving cash instead, but I kind of regret not giving the books. My wife was worried we would offend somebody by giving financial advice books, but looking back, I should’ve put it this way: What would I want somebody to give my kids when they graduate? Certainly some financial knowledge would be worth much more than some cash, although the grads probably wouldn’t have looked at it that way.

Now, to my kids. It’s scary to think my kids are only nine and 11 years away, respectively, from graduating high school. I hope in that time, we can teach them the life skills they’ll need to navigate their college years. We also hope to be able to help pay for college, so that they can earn their degrees and begin their professional lives unburdened by debt. I have a feeling those nine years are going to zoom by.

By the way, you may have read in an earlier post about the savings accounts we opened with our kids. While it took them some time, both kids have caught on to the concept – especially the "company match" we’ve offered. Combined, they have more than $700 in their accounts now. And I had to laugh when they came up with the idea of taking out their money, then putting it back in (thus earning another free "company match"). That was cheating, I said. Maybe they’re a little sharper than I think …