Early exposure of children to wealth and investments - page 3.

Mahanton

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Quote from: Vinaa77 on March 21, 2024, 05:26:55 AM

Quote from: bayu7adi on March 20, 2024, 07:10:46 PM

In my culture, every one ready to receive learning about the importance of the future, including investment or the world of careers, starting at university. Yes, their awareness is greater, especially children who are used to living in luxury and also have rich parents. They are more aware that money is important for their future, so they are forced to grow up faster.

Children, let them have children's character... forcing them to grow up too quickly, I don't think is a good idea... What is certain is that when they grow up, we hope that a child can make our investment experience a good lesson.

Of course everyone will teach their children the importance of preparing for their future in order to be able to live their lives well and if their children are used to living in luxury, of course they have to teach them to be able to live independently so that when they face the world of work they must be ready to do anything. which is indeed their responsibility, because of their habits of living a luxurious life, of course they will not be ready for the world of work which gives them responsibilities and cannot complete their work well.

It's not a good thing if parents force their children to grow faster and it would be better to give their children the freedom to be able to choose their pleasures first and when they are adults, then tell them about investments so they can prepare for their future.

As a parent then it would really be that a responsible action that you would be needing to make for them to know at least on the thing that they do really need to know on which it might not be simple
but at least you are already molding them to have that kind of knowledge that connects out with investment or business on which this is really something crucial or something that would be beneficial
when the time comes. We do know as parents that we wont really be staying up on their side like forever on which it is really just that right for us to teach them on things which that would really be that help them on handling themselves on future plans that they do have.

The earlier the better and just like been said that it would be better that you should really be teaching them on the time that they are already matured enough or simply could be able to understand
things because if they wont really be showing any interest on it then it would really be that so hard to tell them on what are the things that they should gonna need to do.
This is why it would be on your own choice which path you would really be taking.

bakasabo

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I remember there was a topic about two young kids building their minimum farm. Many were excited about that, but I looked on this situation on a different way. On one hand its is good that parents showed kids how to make money, on the other hand I see manipulation by parents. And in general I dont believe that two underaged kids (the oldest kid was about 10 only as I remember) would be interested in earning money at such age, that they found video how to mine crypto, installed all the programs, started earning, bought new GPU and built a minimum farm. And managed to sell crypto. Hard to believe that two kids did all that on their own. And not parents did it all and just made up that story. I remember when I was 10, I showed little interest to money, and my maximum was "get $20-30 to buy that robot I saw in the shop". But definitely not earning thousands.

Vinaa77

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Quote from: bayu7adi on March 20, 2024, 07:10:46 PM

In my culture, every one ready to receive learning about the importance of the future, including investment or the world of careers, starting at university. Yes, their awareness is greater, especially children who are used to living in luxury and also have rich parents. They are more aware that money is important for their future, so they are forced to grow up faster.

Children, let them have children's character... forcing them to grow up too quickly, I don't think is a good idea... What is certain is that when they grow up, we hope that a child can make our investment experience a good lesson.

Of course everyone will teach their children the importance of preparing for their future in order to be able to live their lives well and if their children are used to living in luxury, of course they have to teach them to be able to live independently so that when they face the world of work they must be ready to do anything. which is indeed their responsibility, because of their habits of living a luxurious life, of course they will not be ready for the world of work which gives them responsibilities and cannot complete their work well.

It's not a good thing if parents force their children to grow faster and it would be better to give their children the freedom to be able to choose their pleasures first and when they are adults, then tell them about investments so they can prepare for their future.

angrybirdy

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Quote from: Uhwuchukwu53 on March 21, 2024, 02:55:59 AM

Quote from: DeathAngel on March 14, 2024, 05:34:32 AM

I think children should learn about money & money management quite early in their lives. You can start by rewarding them with pocket money each week for doing tasks around the house. You can allow them to save up for something they really want or budget weekly to afford sweets, chocolate or whatever. I won’t tell my kids exactly how much money I make but I will teach them about Bitcoin & how to use it so they can take over when I die.

I concur to this your pattern, what you stated us more of the best way to educate children on money management and enhance them on accountability for money. Educating a child in how to make money manage it is very important, just many parents fail to teach their children on sex education that is how they failed on educating children in how to make money and it's management, that is why many today even at the age of 20- 39 years still depends on parents mostly those that come from wealthy family.

As you give your child money you teach how to save, invest, and give account on what the money is used for , not as some believe that given a child money leads them to stilling that can only happens were there is no teaching initiated.
In my opinion to give a child money is very important and should be inevitable that is why I concur to your statement.

Indeed, that is one of the best way to teach your kids at their young age, they can adopt it in the long run on how to perfectly manage their own money and the same time, we are able to see their spending habits while they were young, right? I see nothing wrong with the idea of giving them a money and letting them manage their own pocket money at the young age because that's one of the best tips that is included in smart parenting, We shouldn't treat them as a kid or spoiling them even if they are growing up because they need to learn accountability and responsibility, so once they are having their own family and kids, they will do the same.

Pi-network314159

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Quote from: Marvelockg on March 14, 2024, 04:58:52 AM

Some parents have denied there children access to a lot of privileges because to them, it will be a major distraction and this could to a very large extent make the kids to feel unloved and might birth hate and hurts in their heart.

Yea that is true and most expecially in Africa I don't think the white does that. Most parent deprive there children of there right and access to what they have simply because they are afraid of exposing there children to early financial system. Not knowing that introducing a child into early financial system is good, but only need guidance to control the level at which they spend. I could remember vididly when I was working with a truck driver, my parents told my boss not to teach me the truck simply because if I start seeing money from the truck I will no further my education. Could you emagine that! That is not a good way of upbringing I still went to school and still learn the truck. The only difference is that they delayed me.

Quote from: Marvelockg on March 14, 2024, 04:58:52 AM

There had been cases when parent invest into project without letting their children know about it and then they suddenly die and it becomes a difficult situation trying to figure those project out and some extended relative might even deny the child access to it.

That is the worst of all. Right now somebody is somewhere struggling to find his parent property which was done secretly. There is no point hiding important information as that from your children. They are your subsidiary, and if you leave this world they will be the one to take control of the access. Wether you like it or not they must. otherwise people whom are not from your lineage will enjoy the fruit of your labour while your children suffer for it. So let us be wise in how we treat such issues.

Uhwuchukwu53

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Quote from: DeathAngel on March 14, 2024, 05:34:32 AM

I think children should learn about money & money management quite early in their lives. You can start by rewarding them with pocket money each week for doing tasks around the house. You can allow them to save up for something they really want or budget weekly to afford sweets, chocolate or whatever. I won’t tell my kids exactly how much money I make but I will teach them about Bitcoin & how to use it so they can take over when I die.

I concur to this your pattern, what you stated us more of the best way to educate children on money management and enhance them on accountability for money. Educating a child in how to make money manage it is very important, just many parents fail to teach their children on sex education that is how they failed on educating children in how to make money and it's management, that is why many today even at the age of 20- 39 years still depends on parents mostly those that come from wealthy family.

As you give your child money you teach how to save, invest, and give account on what the money is used for , not as some believe that given a child money leads them to stilling that can only happens were there is no teaching initiated.
In my opinion to give a child money is very important and should be inevitable that is why I concur to your statement.

adiksau0414

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It is important to strike a balance between transparency and protection when it comes to sharing information about investments with children. While it may not be necessary to disclose every detail of investments to young children, it is important to gradually introduce them to the concept as they grow older.

It is advisable to start educating children about investments and financial literacy from a young age, in age-appropriate ways. This could involve teaching them about the importance of saving and budgeting, and gradually introducing them to more complex investment concepts as they mature.

By gradually exposing children to the family's investment portfolio and educating them about financial matters, parents can instill a sense of responsibility and stewardship in their children. This will also help prepare them for managing their own finances in the future.

Ultimately, the decision of when and how much to disclose about investments should be made based on the individual child's maturity level and ability to understand complex financial concepts. It is important for parents to communicate openly with their children and involve them in discussions about family finances in a way that is age-appropriate and respectful of their level of understanding.

wiss19

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Quote from: Dr.Osh on March 20, 2024, 10:40:29 AM

I think it's natural for us to tell our children about the investments we make even when they are not yet adults. However, I will do this when he really has an interest in what I do. However, if he doesn't show interest, I might start teaching him when he gets older and starts to understand investing. However, forcing a child too much can also affect the child's psychology. If he still wants to play and learn about general things, I will let him do that and keep control. There is a reason why schools have educational levels. that's because there are limits to how children can absorb what they want to learn.

I do believe that it would be a wise decision because kids who learn about it at an early age will grow used to it and start thinking about it as something quite normal. I believe that people may not react to it well if they learn about it at a very high age, because they will not see it something naturally part of their life, but if you make it something common then it will get better.

Think about it, something as small as taking a shower everyday, brushing your teeth everyday, drinking a glass of milk everyday, we teach kids these things every single day and follow it up until they are grown, some may quit doing that when they get older there is no doubt about that, but most people keep doing them all their life. Make investment something as naturally part of their life as these things.

bayu7adi

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Quote from: Marvelockg on March 14, 2024, 04:58:52 AM

Is it right to tell your children all the investment you've made even when they're not yet matured enough? If no, At what age should they start knowing about those investment?

In my culture, every one ready to receive learning about the importance of the future, including investment or the world of careers, starting at university. Yes, their awareness is greater, especially children who are used to living in luxury and also have rich parents. They are more aware that money is important for their future, so they are forced to grow up faster.

Children, let them have children's character... forcing them to grow up too quickly, I don't think is a good idea... What is certain is that when they grow up, we hope that a child can make our investment experience a good lesson.

STT

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Children are an investment themselves, not all investment is money either sometimes its time and effort. Dedication to learning a subject can be investment, I dont find any fault with letting children know about investment because learning is largely what we ask children to do without knowing why and its yield on what they learn that helps them later; its very much true children are involved in investing all their time before they even know why they should do such a thing.

ringgo96

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Quote from: Dr.Osh on March 20, 2024, 10:40:29 AM

I think it's natural for us to tell our children about the investments we make even when they are not yet adults. However, I will do this when he really has an interest in what I do. However, if he doesn't show interest, I might start teaching him when he gets older and starts to understand investing. However, forcing a child too much can also affect the child's psychology. If he still wants to play and learn about general things, I will let him do that and keep control. There is a reason why schools have educational levels. that's because there are limits to how children can absorb what they want to learn.

For children our main priority is the basics of knowledge that they have to learn, because for the investment part I don't think it is suitable for children's ages, even for teenagers we have to see what their character is, maybe they prefer other parts so don't force our children to follow our path, give our children freedom but must always be monitored to avoid negative things, and I really agree with the way you do it.

MarjorieZimmermanGinger

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Quote from: Marvelockg on March 14, 2024, 04:58:52 AM

There had been cases when parent invest into project without letting their children know about it and then they suddenly die and it becomes a difficult situation trying to figure those project out and some extended relative might even deny the child access to it.

It will be a consequence when people have assets that their family doesn't know about and when they die, these assets will disappear with them. Children are a hope for parents and usually they will tell their children about the assets they have at an age when they are able to be responsible. The goal is that the assets they own will become an inheritance and every parent will definitely prepare this for their children.

Quote from: Marvelockg on March 14, 2024, 04:58:52 AM

Is it right to tell your children all the investment you've made even when they're not yet matured enough? If no, At what age should they start knowing about those investment?

It is not appropriate to tell our children about the investments we are making because they are not yet mature enough to know. But we can slowly introduce the investments we make and their objectives so that they can learn to do what we do. After they understand what investment is, we will tell them about the assets we have so that they can invest in them if one day we die.

boty

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Quote from: ancafe on March 18, 2024, 10:36:55 AM

Educating children about investment is indeed quite good, but we have to look at the child's age first, because if we teach investment to children who are not yet responsible then the effect will be too big. The age at which children grow up and develop more responsibility is not always the same because there are children who are slower to develop. Introduce investment slowly and they will find out for themselves how the journey goes because directing children doesn't necessarily mean they like it.

There is nothing wrong with what parents introduce to their children, but parents must see the child's readiness to direct things. Preparing maturity in earning money is good so that children can be better prepared when facing real life after they grow up. However, the direction in introducing something must be done on a scale so that children get the complete information.

Yes, it is true that in introducing investment to children, of course we should not force them to understand what we are teaching and we must tell them slowly and not make them feel pressured by what we introduce to them and make them lazy to listen to what we teach, I am very sure that if we teach slowly as you mentioned, of course they will be able to accept it and will be interested in what we teach, because this will be very beneficial for their future in managing their finances.

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Quote from: bakasabo on March 20, 2024, 04:07:04 AM

Quote from: MissNonFall9 on March 20, 2024, 02:14:37 AM

Quote from: sokani on March 15, 2024, 04:46:08 AM

It's actually good for a parent to disclose their investment to their kids but before it gets to that, the child must be found to be trust worthy. No parent wants to see a child blow off everything that he or she has so much worked hard for within a twinkle of an eye. So parent should not be fixated on acquiring wealth aone, they should give their children good upbringing, teach them how to save and the importance of saving. This will help them to be more responsible financially.

Absolutely right We have to mentally train our children from childhood to make it fair and believable. From a young age they need to be raised to manage and manage things with little money and make them mentally capable so that we believe they will never blow it. Because we know that mud can be shaped as desired but hard soil can never be shaped as we like. From that point of view, we need to teach and understand investments from an early age, including managing and maintaining financial affairs for our children.

It is smart to educate children from very young age what is money, its power and how hard or easy it is to earn them. But parents should not do it in a way to make children think that earning money is their only life goal. It is smart to tell and show what they can achieve if they invest early and have a good education. But it isnt smart to force them to invest as early as possible.

I have seen post on the forum where people use bitcoin as an example (it went from $1 to $70k in 10 years), and think that if their kids will know from younger age about investing and start doing it, then they would be rich when they become adults. From the side, this looks like parents want their kids to earn from early age, when it is parents must to support a child until adulthood as a minimum.

It is good that parents want their kids be smart, but let them be kids, because they will never return to childhood anymore. They have entire life to work and earn.

Yes it is true that children should never be taught that earning money is their only purpose in life but it is important to educate them about childish economic behavior in my opinion. That is I mean that a child should be raised and experienced from the beginning with only as much as he can carry. Suppose my child goes to school every day. Every child in school buys something from the store. In that case I will give my child a fixed amount of money for his meal and explain that he will spend this money with friends and share the meal also saving some of that money. It should be taken care of whether you can save some amount from here. In this way he should gradually develop social and humanitarian issues in him along with economic issues. And after a certain age and time he should be explained and given knowledge about investment. It does not mean that I am only teaching him how to earn money but how to master social and human subjects with money is the only goal.

Dr.Osh

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I think it's natural for us to tell our children about the investments we make even when they are not yet adults. However, I will do this when he really has an interest in what I do. However, if he doesn't show interest, I might start teaching him when he gets older and starts to understand investing. However, forcing a child too much can also affect the child's psychology. If he still wants to play and learn about general things, I will let him do that and keep control. There is a reason why schools have educational levels. that's because there are limits to how children can absorb what they want to learn.

slapper

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Parenting is full of hidden hazards; one mistake can have serious effects. Wealth and investments complicate matters and raise the risk of mistakes. Shielding kids from your financial struggles may seem like a good idea, but is it? Are you preparing them for a bigger fall? Ignorance is a time bomb. Think about it. After you go, they may discover they've been in the dark their whole lives, which worries you. They become dumb and susceptible to any scavenger like deer in headlights

Never mind the love-hate drama. Feeling unloved because they don't know stocks or real estate? The tip of the iceberg. Lack of trust and transparency is the problem. Don't overwhelm children with financial information before they can spell investment. It involves gradually introducing them to the topic, raising their awareness, and preparing them for life How soon should they know? No age or number is perfect. Not only age, but maturity. And guess what? For you to decide. Start with the essentials, evolve the discourse, and don't wait. The aim? To raise financially knowledgeable, responsible, and conscious children

lixer

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Quote from: avikz on March 14, 2024, 11:15:06 AM

It is very important for the kids to know about the investments made by their parents. But at very young age they may not be able to understand these things. So it is always better to make a legally registered will with all the investment details in case anything goes wrong.

I don't think a kid below 12 years will be able to understand these things. But having a registered will usually helps in such situations.

Why not explain it to them according on their age? Use easy words and if possible use cartoonish visualization, in order for us to get their attention. As they grow older, things will only get easier for them but we might still need what you suggested there of having a legal registered will, to make things more formal and like you said, in case something bad happens to us and our kids are not yet on the right age to claim what we will be left to them by us.

Kids being exposed to these stuffs are much better than if they will be exposed to drugs, sex, violence, gambling, and similar negative activities. Can't help but to say this, because I know it's usually the ones that occurs, which is sad to know Sad

.

pusaka

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Quote from: reagansimms on March 17, 2024, 10:44:29 AM

Quote from: Marvelockg on March 14, 2024, 04:58:52 AM

Is it right to tell your children all the investment you've made even when they're not yet matured enough?

A parent's best investment is to care for and teach their children to become better individuals, children are a big investment that is very profitable for the future. Everyone certainly has a better future orientation, of course they will prepare the best to maintain the sustainability of all investments that have been prepared for their children. If parents are willing to spend most of their time ensuring a bright and happy future, Parents also need to introduce their children to the early stages of investments that have been built with great difficulty in order to maintain the continuity of assets when they suddenly die.

What we do today is nothing but for our future, and not only for our future, but also for the future of our children and grandchildren. Children are the greatest gift in our lives, so we have an obligation to raise our children on the right track so that later they can grow up with positive energy, I mean they can not only benefit themselves and their families but also benefit many people.
Introducing our children to investment at an early age in my opinion is valid, but don't need to be forced, let it run as naturally as possible, because in my opinion if they are interested in investment then they will learn it themselves or ask us. This can be done by allowing them to see our activities in investing.

Lanatsa

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Quote from: bakasabo on March 20, 2024, 04:07:04 AM

Quote from: MissNonFall9 on March 20, 2024, 02:14:37 AM

Quote from: sokani on March 15, 2024, 04:46:08 AM

It's actually good for a parent to disclose their investment to their kids but before it gets to that, the child must be found to be trust worthy. No parent wants to see a child blow off everything that he or she has so much worked hard for within a twinkle of an eye. So parent should not be fixated on acquiring wealth aone, they should give their children good upbringing, teach them how to save and the importance of saving. This will help them to be more responsible financially.

Absolutely right We have to mentally train our children from childhood to make it fair and believable. From a young age they need to be raised to manage and manage things with little money and make them mentally capable so that we believe they will never blow it. Because we know that mud can be shaped as desired but hard soil can never be shaped as we like. From that point of view, we need to teach and understand investments from an early age, including managing and maintaining financial affairs for our children.

It is smart to educate children from very young age what is money, its power and how hard or easy it is to earn them. But parents should not do it in a way to make children think that earning money is their only life goal. It is smart to tell and show what they can achieve if they invest early and have a good education. But it isnt smart to force them to invest as early as possible.

I have seen post on the forum where people use bitcoin as an example (it went from $1 to $70k in 10 years), and think that if their kids will know from younger age about investing and start doing it, then they would be rich when they become adults. From the side, this looks like parents want their kids to earn from early age, when it is parents must to support a child until adulthood as a minimum.

It is good that parents want their kids be smart, but let them be kids, because they will never return to childhood anymore. They have entire life to work and earn.

On the time that they would really be able to absorbed out things accordingly or having no issues then this is the time that you would really be needing to consider on teaching them about your family business and other investment correlated means on which it would really be giving out that kind of idea on which it would really be helpful soon into their investment journey and if you do have that business then they would really be having the idea on what they should gonna do. It would really be just that a matter of time when they do get matured then everything would really be that in line.

Although this might be that takes time since not all children would really be that interested when it comes to business or they arent that still not prepared for this one
and rather they would really be focusing into their childhood. This is why it would be better that you shouldnt really be forceful as a parent.

bakasabo

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Quote from: MissNonFall9 on March 20, 2024, 02:14:37 AM

Quote from: sokani on March 15, 2024, 04:46:08 AM

It's actually good for a parent to disclose their investment to their kids but before it gets to that, the child must be found to be trust worthy. No parent wants to see a child blow off everything that he or she has so much worked hard for within a twinkle of an eye. So parent should not be fixated on acquiring wealth aone, they should give their children good upbringing, teach them how to save and the importance of saving. This will help them to be more responsible financially.

Absolutely right We have to mentally train our children from childhood to make it fair and believable. From a young age they need to be raised to manage and manage things with little money and make them mentally capable so that we believe they will never blow it. Because we know that mud can be shaped as desired but hard soil can never be shaped as we like. From that point of view, we need to teach and understand investments from an early age, including managing and maintaining financial affairs for our children.

It is smart to educate children from very young age what is money, its power and how hard or easy it is to earn them. But parents should not do it in a way to make children think that earning money is their only life goal. It is smart to tell and show what they can achieve if they invest early and have a good education. But it isnt smart to force them to invest as early as possible.

I have seen post on the forum where people use bitcoin as an example (it went from $1 to $70k in 10 years), and think that if their kids will know from younger age about investing and start doing it, then they would be rich when they become adults. From the side, this looks like parents want their kids to earn from early age, when it is parents must to support a child until adulthood as a minimum.

It is good that parents want their kids be smart, but let them be kids, because they will never return to childhood anymore. They have entire life to work and earn.

Topic: Early exposure of children to wealth and investments - page 3. (Read 1291 times)