As parents we should want the best for our children. How can we leave our children better off?
We should try and give them the best head start we can and teach them about the mistakes we made so they do not do the same.
Start them an investment account when they are born or as soon as possible. Writing this I am 38 years old. If my parents would have bought me 1,000 dollars of Microsoft stock it would be worth over a million. If I had 5,000 invested, it would be over ten million. Compound interest is a beautiful thing. Pick something like E-Trade open a custodial account for them. Find some type of All Star Mutual Fund and put in ten dollars a week or whatever you can. Over time this will add up to be better than nothing. Think about all the toys your parents bought and how many of those you still have. I can tell you I would be thanking my parents now if instead of buying me toys they invested and put that money up $10 and $20 here and there adds up. Bigger sums added on birthdays and Christmas. Spend more time with them, less money on toys and start them an investment account early.
Leave them with their memories. Best time in a good relationship with him that will leave them with memories but also photos send to them. Start them an email account and start emailing them pictures like an online photo album form and give them the password when they turn 18.
We all say I wish I knew then what I know now. Let us make sure our kids know what we wish we did. Sometimes they do not want to hear it or listen so find a way for them to take it in. For instance, I read a book at the age of 38 called the Richest Man in Babylon which I recommend anybody to read, and I wish I would have read it at an early age. Knowing I need to motivate my son to take that in I explain to him how much I love the book and that I would give him $100 if he read it and wrote me a book report and details on each chapter of the book. He is 14 years old which is a great age to start taking that in.
Explain to them how important health is and you only have one body no returns. Start them in physical activities young and give them the knowledge of how to exercise if you do not have it, you should learn as well but teach them.
As parents we should want to raise well rounded kids, that is our job. We should also want them to have a little head start going into this vicious world.
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