Lots of parents are out there looking for good, creative ways to get their kids interested in saving and investing, particularly for retirement. After all, a top regret of people who are older is not starting saving and investing early on. Today I’ll share the strategy my parents used to get me to open my first IRA as a teenager, one I still have to this day.
kids and finance
Not all our money decisions need to make economic sense. When my oldest son was in tears over the breaking of his great-grandfathers Timex, my husband and I knew we had to fix it even though it cost more to fix than replace. Learn about how we had to locate the one person in the US that fixes heirloom Timex watches, and making decisions from the heart instead of the wallet.
Part of having kids is teaching them hard lessons about money. Sometimes parents find it tricky to teach things like deferred gratification, or making wise spending decisions, to their kids without lecturing them. Today I share the story about the role Harry Potter Wizard chess and Hoverballs played in helping my kids learn these lessons.
If you’ve ever tried researching accounts for kids, your head is probably spinning with all the different options available to you. In this article, I break down the various options you have to put aside money for kids, and what each of them is good for.