Sunday, November 2, 2014

How I taught my kids to invest

This article is basically about a family who realized that their investments weren't making a return and decided to invest. Each of the three children have a savings account that was invested in the stock market. A stock was specially picked for each child, Disney, Apple, and Honeywell. The children monitored their stocks and their mother taught them about saving, spending, and investing.
I think this is really interesting and useful because before I took a personal finance in my senior year of high school, I knew basically nothing about investing, how to pick stocks, how to monitor my assets, and how to ensure that I keep myself on top of which stocks are rising and falling. The earlier and more accurately people know this process, the better off they'll be. A mom giving her kids one stock to follow might seem like a chore to the kids, but it's also teaching them valuable skills they'll be able to grow and utilize over their lives.

http://money.cnn.com/2014/11/01/investing/teach-kids-to-invest/index.html

4 comments:

  1. I agree and think kids around the lower high school area should start reading the newspaper or educational magazines like the economist to get a grasp on the economy and how its constantly changing whether its slightly or drastically. Everyone will need to know how to invest, save, spend and manage their money so its good to see this family a step ahead.

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  2. This is fantastic. Not only is the mom teaching her kids about money management, she is also making it a fun competition for them. This positivity around managing money will likely encourage smart financial choices in the future. They also get the benefit of earning money that can be used for things like buying a house or a car in their futures.

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  3. This is a great method for teaching kids an valuable skill. I wish someone would have presented such things like this to me when i was younger. This will create a good habit that will stick with them in the future. Saving, investing and understanding the economy is one of the biggest keys to being financially successful.

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  4. This seems quite simple and yet a very effective and easy way to start. I knew nothing about investing and the stock market when I was that age and I honestly don't know much more now. By opening the door for them at that age, they will have a very easy time getting more familiar with more advanced concepts as they get older and they should be well off with their money.

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