What happens when two financial planners get together to write a children’s book? Munny Journey. On one level it’s a keepsake book for recording those precious moments that come once in a lifetime. You know… A photo of baby’s first coin bank. Baby’s first coins. Baby’s first dollar. Baby’s first financial gifts. Baby’s first bond. Baby’s first stock. And the best of cherished memories… Mom and Dad record for posterity the levels of the Dow Industrial Average, NASDAQ and S&P 500 on their child’s date of birth. Ahh, sweet memories. At this point you re probably thinking, ‘This is absurd!’ I did at first glance, but hold on a minute. On another level, this book is really about educating parents. It aims to push parents to plan for their baby s financial security. The thing is 96 pages with an audio CD too. Interspersed between the prompts for parents to record data are pages that explain stocks, bonds and so forth. Here are a couple catchy quotes from author Brad Dugdale from the following interview video clip from PBS KCTS in Seattle, Washington: ‘This book is about taking action. This is a road map for financial security so parents can embrace these concepts, execute the concepts and then sit there and monitor the results.’ A recurring theme is the notion of creating a $1 million nest egg for your kid: ‘We want kids to have a fiscal fair start. So if you deposited $5000 [at birth] and then saved a little over $100 a month, you can accumulate $100,000 by age 21. If you save $1 a day and grow it at 9 percent interest for 65 years you can actually make any child a millionaire. So for about $30 a month you can make a child financially secure.’ A lot of us don t have $5,000 to set aside at birth, but the message is still clear. Make a point of setting aside savings every month for each of your children and explore ways to earn the most from it. The author’s What’s My Number? page can be used to calculate how many times your money will grow when invested at an annual average interest rate until age 65. Of course, count on your kid spending that nest egg long before he’s 65-years-old, but still, with time on your side you can build quite a start for your child.
Both of my children have a Savings Account and a 529 in their names. I thought that we were doing enough….that is until I had the opportunity to review Munny Journey. Another thing that we can be doing is educating ourselves along with our children. The generous life expectancy of babies born today combined with the magic of compound interest can provide financial security for less than you might think. A dollar a day, saved and invested, over a person’s lifetime, can grow to a million dollars by age 65. This full color, illustrated journal shows you have easy it is to start that journey, and how to stay on course. It contains keepsake pages and a pull out money ‘growth chart’ to record the financial memories of a child’s first years. Also included is information on savings accounts, bonds, stocks, mutual funds, and saving for college. Financial security is the greatest gift you can give a child. This journal is a unique compilation of lasting memories and teachable moments that you can share with the child you love for years to come. Millions of people in the United States are in financial jeopardy. Were they afforded the opportunity as a child to learn the value of money? Were smart saving and spending habits instilled in them at an early age? Don’t set your own child up for failure by never talking to them about money. Munny Journey makes it easy for you to start that dialogue.
–Peanut Butter and Pickles Blog review
The Munny Journey is a wonderful gift for any newborn or infant. This new journal shows how you can give one of the greatest gifts of all – a financially secure future for your little one. Against a backdrop of economic uncertainty, rising home foreclosures, record gas prices and falling stocks one veteran financial advisor has some great news – it is possible to set your newborn up to be a millionaire for just a dollar a day. The Munny Journey is a keepsake journal for Baby’s First Money. Modeled after a traditional baby book it contains pages to record money ‘firsts’, such as baby’s first dollar, first savings account and first investment. The journal also serves as an educational tool – teaching your child about saving and investing and illustrating the magic of compound interest and how it can create wealth. We LOVE this journal and think it is a great ‘investment’ for your child’s future.
It recently occurred to me that as a society we’ve been handling this whole “saving for retirement” issue completely backwards and in the process forfeiting the advantages of compound interest… exactly what you describe on your website! Imagine my excitement when I realized that someone was already working to give people the education and tools necessary to change that. Over the coming years I will be funding my grandson’s retirement, and my son has already agreed to carry on the tradition when his son has children. Thanks to everyone on your end your for your vision and may your efforts to empower people to effect such positive changes succeed beyond your wildest expectations!