What do you do if you’ve been good with money and are “wealthy?” What do you tell your kids about family wealth? Should you tell your kids?
Kids are learning about wealth from an early age. They are watching their parents and listening to financial conversations. Investment talk should start as early as possible. First, start by relating that you should own what you purchase or use (Starbucks, Google, Apple, etc). Second, by starting an investment plan at birth and investing a dollar a day.
It’s never too early to learn about compound interest. Don’t be afraid to talk to your kids about the smart money decisions you’ve made. If you teach them what you’ve done, they’ll be more likely to make similar choices.