As I was planning my investment strategy for the next six months when I thought to myself, shouldn’t I be also teaching my kids investment strategies?
I went through graduate school without ever being thought money management or any investment strategy. I was a financial illiterate and really had a bad relationship with money. All my life I was thought that money was hard to earn. We penny pinched every step of the way and still felt like our wealth conditions were no where near where we want to be. That was when I told myself that I would make sure my kids did not go through the same route. We will teach them how to invest and have good money management skills.
Here are some ideas.
1. Help them understand the value of money. We always discuss about what is worth buying and what is not. Sales in departmental stores are excellent school for these. Help them understand that when they buy items that they like during sale period, they actually get more for less
2. I am teaching my kids how to trade with candlesticks. Get them used to looking at charts and graphs. Open a demo account for them to play with.
3. Keep them informed about how you are investing. They are never too young to learn. In the old days, when a family has a family business, the whole family is at the shop. These children learn the trade as soon as they were born.
4. Make it a priority to manage your money and investments well. Remember, they are watching you ALL THE TIME.
For more
Teaching Parenting Skills
We teach our kids candlesticks for stocks and forex. This site is a good place to start…
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