Category: Grand Kids
Introducing Kids and Grand-Kids to Investing
Introducing Kids (and Grandkids!) to Investing Setting the stage As your kids learn more about managing their money, introduce the concept of investing. Its a great way to reinforce the ideas of goal setting, saving, and budgeting. It can help put them on a long-term path to financial independence. Keep it simple When kids are in elementary or middle school, its a good idea to teach kids to put money away in three buckets: save, spend and share. As they get a little older, say into high school, you can get a little more sophisticated in how you approach investing. Start by explaining that investing is a means of using your money to try to create more money. This usually starts to make more sense for kids when they start to work and they can finally realize how hard they have to work to pay for something, especially after Uncle Sam takes his fair share. Make it real You can start your investing conversation by having a family meeting. You should explain that your intention is to
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