Topic: Early exposure of children to wealth and investments - page 8. (Read 1228 times)

Children can learn directly from their parents, and if you a parent lay a good foundation of letting your kids know that you have invested, and the importance from investing to your kids, They will grow up without consciousness and early in life they would be focused on setting up investments that they would later profit from.

One problem and challenge I have noticed in my own immediate environment is that parents are more focused on exposing the children to religion than investment and wealth importance. If focus can also be placed on wealth and investment to children in an early age just as religion it will have an immense benefit in the development of the child and financial independence earlier in life.

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.

It is good to let your kids know about all your investment that you have as long as they are sensible enough to understand what an investment is. When they are on holidays, you can use that period to enlighten them about how money works, and if you have a physical investment or business, you take them there to be with you, so that they can have the idea of how things works.

As mentioned by others above, you should give them money, and teach them how to save the money in order for them to use it for themselves. You can also give them some amount of money and tell them to keep it for you, that you will ask if the money later. After one or two months you can take back the money from them. My mom introduced me to her business from when I was 10yrs,and it exposed me to how to save and keep money very early.

Children's world is a game, so let them enjoy their childhood with joy and excitement, don't burden them with complicated problems. Because talking about good money management and investment is not an easy thing, even those who are old enough don't really understand it. In general, for school-age children, their financial management is still completely regulated by their parents. And are we as parents capable enough to manage our finances well? If we ourselves cannot manage our finances well, then don't expect our children to have good management, because parents are the main role models for a child. So in other words, we don't need to bother teaching it, we just need to give an example. Unless they are old enough, it is quite important to be able to instill the principles of good financial management in children. and the best way to teach them about managing money well and being independent, what we need to do is not to pamper them too much. We have to teach them how they can slowly leave their dependence on their parents in financial matters. By doing this, they will slowly learn how they can earn income and manage their finances well.

A child can be under 10 and is no way can even understand the dynamics of investment and the responsibilities that come along but one who are in their teens definitely has an idea about money so it is the right time to mold them in the way that you wanted. Obviously you don't have to let them know every decision you make but it is mandatory to have backup way to inherit the assets you have that you can let them know when you feel they are ready.

A child cannot manage a business of an investment portfolio of an adult, even if that adult suddenly died. So, for such events, some alternative arrangements that rely on adults must be made (at least till the kids grow up).
I think children should be taught the basics of financial management and some stuff about investments as they grow older, but it's important to follow the curiosity that children have and use it to teach some useful stuff, instead of forcing children to learn when they don't want to do it and can resent you for it. So it's crucial not to overdo it and to understand that our children aren't younger versions of us; they shouldn't repeat our paths and fix our regrets because they should become themselves.

Before teaching children about economics and finances, most parents would do well to do some deeper research on the topic themselves.

Knowing about investments (especially detailed ones) of parents is clearly a privilege that children should not know about until they grow up and become financially literate people.

For such cases there is a “will”. There were also cases when children, having inherited their parents’ money, very quickly spent and lost everything. Therefore, in such cases, you need to take care of a trusted mentor who can take care of everything.

No, you should not introduce your children to your investment strategies. It's not a specific age that determines when they should start learning about your investments, but rather their readiness. Then, when they are ready to perceive information of this kind.

By the time the kid starts to learn how to use money and purchase online, I think its a good decision already to make them learn gradually. The kids expose to how the parents work like if the parents own a meatshop, eventually the kids will know how the shop works.

Teaching the kids to invest and trade I think is not so much different. They will learn how the market works and investing can be a way for them to learn more about economics and shape the kids mind into which college degree they want to take.

As long as the child is willing to learn it's all good but for me 15 or 16 years of age is good enough for them to be exposed to wealth and investments but here in my country, at young age of 5 or 6 they are encouraged to save money like coins we call it "alkansya" in our local language or a piggy bank though it may vary on what materials you use whether an empty plastic bottle, a pvc pipe, GI pipe, bamboo etc. The only problem encouraging kids nowadays is the influence of technology and lifestyle they spend more of their time on social medias, gadgets and many more that is for me a distraction but we can also utilize and use this as a bit of an advantage since we can show or teach them using these technological advancements.

Really? Sharing investment ideas to children who are not yet in the legal age? First of all there will be terms under the law to be followed. In most instances relatives are the ones to take care of your wealth if your children are still to young to handle it and that is because they are stil not matured enough to make valid decisions. Well, if what's being fear is for other people to benefit from what you will left for your child, then that's a given thing, just hope that such thing won't happen in your case. Not quite sure of the right age but it might be possible at age 18 and above wherein a child's mind is matured enough already. What's best is to practice your child early but with valid ways and that includes not forcing them but rather familiarize them little by little.
There is for sure a right way to do things. There could be risks such as a child being spoiled of privilege and become irresponsible of how to make use of it. Another is for them to be uninterested at a young age. Given that wealth is there, you may start with enrolling them to additional subjects to do things with proper. In such way they won't be bombarded by informations unlike with taking the sole responsibility to do so, that might result to information overload. At least if it is proper education, informations will be moderated.

Today, children are introduced to finance very early on. If your children are small, don’t burden them with their parents’ problems; just teach them to take care of the things you buy them. Being neat will make children smarter.
But as they grow older, it is imperative to teach children to understand their spending, at least using the example of pocket money. The ability to not give in to the desire to quickly spend money every time but to think about the need for a purchase will also be a good trait.
As for Bitcoin, I think it's pretty easy for a teenager to figure out how to use it. Today's children understand technology very easily, but learning should be unobtrusive so as not to completely take away the best time called “childhood” from the child.
But as for running a family business and investing, the child should have knowledge about this as one of the options for his future occupation, understanding that he has the right to do something else.

It's a mistake which most of the parents make by not educating their kids enough on money management as some of them thinks that early exposure of money to their children will make them less active on other subjects and they will become money minded but there is a thin line between telling them money is everything and money is required for most of the thing and how they can manage their money and how they earn. It's high time kids should to exposed to these basic things at the early stage of their lives.

I think that children should be allowed to go through childhood without putting too much pressure on them to understand certain things before they're matured enough to comprehend what their parents wants them to know, it could make them to be under pressure and miss their childhood stages. Parents should focus on building up the character of their children first, if they don't and they go ahead to reveal sensitive information about their finance, the kids might be in bad companies and reveal the parents private details. And they can be advised to steal the information and clear the parents life savings, or worse wicked people can take the advantage to kidnap or steal the information by themselves. So after moulding a child's character, parents can gradually start to reveal sensitive information to them, knowing that they'll be responsible to handle them.

It's best to tell or teach children where money comes from, so that children can know that money comes from working, trading or other things that are easy for them to understand. And the goal is for children to appreciate money which must be managed well and not wasteful.
And if we want to teach investment, we can teach it with games about investment and currently there are many children's games related to money and investment such as.
Idle Money Tree: This game helps children understand the concept of money and finance, while improving their financial skills.
Monopoly: This legendary game is still the most popular financial educational game, this game can teach children to learn how to manage finances, investments and the impact of every financial decision.
However, we have to accompany and teach all of this so that they can play it and understand the purpose of the game, because children will like it more and understand it more easily if we educate or teach them with games.

As parents, the first responsibility for you is to focus on good parenting of your children, teach them morals, learning must not be in a harsh manner, a child should be sent to school first to get educational knowledge which is their basic foundation, exposing children to wealth or investment shouldn't be the first thing a child should differently between his left and right before exposure of such kind will be made known to them, children learn very quick and their attention can divert if they get into something, children should grow to an extent before they can be given the orientation about wealth and other things concerning money.
Before exposing a child to good things in life, they should know how to control themselves in other not to allow a lavishing lifestyle to be part of them.
They should also be taught how to be conservative and avoid reckless so that they won't be bankrupt in future.

I agree, and if I have a child, I will set an age where by that age they should know how to budget their own allowance. Because I believe that when you learn something while you are young, you can carry it until you are old and it is possible that you can improve the correct practice in that matter. When it comes to financial matters, I would prefer my future child to be financially literate so that even if I am not by their side, they will know what is the right thing to do with the money they have. Yes, they will become independent at a young age, but I would rather that than them growing up ignorant and not knowing how to handle their finances.

Parents should let their children know the business they are in when they are at the stage that they can understand because they are likely the ones to inherit their business and parents should make documents that all the business they have should be in their children's name under the name of stewardship from people they trust.

When it comes to inheritance the bloodlines should be the ones to follow, all their investment should go to their children and the parents should write wills and documents on how to transmit this in case there's an untoward incident.

I think that's fine. It's best to expose our kids at an early stage of their lives about money. Most of the kids that I've seen lately aren't really into these knowledges that are being taught by their parents but instead, they're into nonsense things and just all about enjoying their childhood. I have nothing against about enjoying their childhood but if you teach them early with your investments or even by just simple savings, they've got an upperhand compared to the other kids when they grow older.

As soon as you teach them how to save, I think that's already enough. Start from teaching them to save money to buy their toys or their desired things because it's about the principle of teaching them on how to be responsible with their finances and at the same time, the lessons are already there and eventually they'll learn about what actually investing is.

If one of them is die, then either of them will responsible with the business. If both of them die, I'd say shit happens.

It's not really a thing that we need to focus, you can't force your child to continue your business. You can teach from small thing, just give them money for every week and teach them to save money, this is the first step.

Don't really teach them to be ready to work, don't harm their young life because it's the only one life stage that they spend most of their time to play without need to worry about money and responsibility.

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.