One of way of maintaining kids interest in money and keep them engaged is the concept of making their money grow – investing.
Once they have learned the basics of handling money, the next step is for them to learn how to get their money to work harder for them. This means we need to start teaching them how to invest based on their age, as well as their personalities.
Investing professionals will advice you to always invest in things you understand. If you can’t explain it to your 8-year-old, then its the wrong investment for you. The same will apply to our kids, they should only invest in things they’ll understand – more on this in a future post.
Parents are still the best resource for kids, but it doesn’t hurt to get some extra advice from Mr Warren Buffet – a billionaire many times over. Check out the Secret millionaire’s Club where he answers questions from kids on investing, the stock market, business and the like.
Every year people pay thousands of dollars for the opportunity to have dinner with Mr Buffet and the chance to quiz him on money matters. If you ever had this opportunity what’s the one question you’d ask him? What questions do you think your kids would ask him, especially once they understand he is worth a couple of billions?
- Jay-Z Guest Stars On Animated Series “Secret Millionaires Club” (thenewx1023.radio.com)