The economy is important for a family! - page 5.

tbterryboy

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Quote from: xSkylarx on March 16, 2022, 07:41:32 AM

To summarize, we could say that they should be financially literate because doing so will increase their chances of being successful. We should guide them through the process of investing, as you can see now that technology is evolving and we must adapt to it in order to be successful in our endeavors. I believe that kids these days are easy to teach when it comes to this, and that we should simply guide them down the correct path because they do not have any previous experience in this area, allowing them to be successful.

We should be careful about our teaching though. I mean my father tried the same, tried to teach me value of money at a very early age when I was not even a teenager yet, just a child, and I learned it and I am thankful for it to him. However, this resulted with me putting money at the center of my life and react to it like the most important thing ever. I sometimes did not even care enough about my health, and still worked hard to earn.

Lately, life happened and it gave me a good lesson that says health is more important than money, and I took care of that problem before I went to back. Now I am working maybe more than ever, but I took that break and realized my health is very important. If that did not happen, I would be working from early morning until late night and probably die at early age (still could happen of course, nobody knows).

Kasabus

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Quote from: goaldigger on March 13, 2022, 06:15:57 PM

As a parent you really want the best thing for your family, so preparations is the key for a more good future with them and as much as possible, achieve financial freedom while you are still alive so you wont need to worry about the economy. Build an empire that you can turn over to your family and continue the legacy, you should also not limit your goal in cryptocurrency, consider every market as much as possible.

I think financial freedom is always our goal the moment we entered into crypto investments. And once we achieved it, we also want our children to live that way and have a brighter future. And educating them is the only way so they can continue the legacy. And that will only happen if you start believing in them and build the potentials while they're young. The earlier they will taught, the better. But of course teach them first little by little considering that their young minds are still adjusting to it.

Finestream

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Quote from: Tony116 on March 13, 2022, 02:35:33 PM

I already have kids, but I haven't thought about teaching them about crypto and investments. My child is going to preschool, I want them to have a beautiful childhood like a fairy tale and according to their wishes.
Crypto will definitely be used a lot in the future but I think we shouldn't rush them because they are big and know they will have their own choices and we are the only ones behind.

If we can lead them at an early age, might as well their choices will not be different from ours. So teaching them about crypto investments will not ruin totally their beautiful childhood days, instead it will open them to what's waiting for them ahead. However, if you think your kids will not be interested in crypto, then leave them their share in fiat. The choices of our children still matter the most because its where they can put their passion in it.

Japinat

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Quote from: livingfree on March 13, 2022, 03:07:12 PM

Quote from: AnisahSiti on March 13, 2022, 01:11:54 PM

But if something happens that we don't want, such as death. By leaving a little treasure to our children, do we need to provide crypto investment education to our children? is it necessary?

Yes, it is a must but depending on how old our children are.

If they're at the right age and can understand things already like 7 or more than that, I think that's enough age to teach them about crypto. But if not, you can teach your wife about it.

And while you're thinking about cryptocurrencies, you protect yourselves with life and health insurances.

As long as their minds are ready, i guess teaching them at an early age might be a good way to make them educated about crypto investments. Because whether you like it or not, you also want them to have financial freedom in the future and with crypto, their future gets even brighter.

Having your wife as your behalf, she has the right to know everything about you, as well as your investments too. So its also a good way to teach her as well so she can continue doing what you have started once you're totally gone.

_act_

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Quote from: AnisahSiti on March 13, 2022, 01:11:54 PM

As we know, the economy is very important for families, of course, to support daily life and plan for the future. In addition to working we also need a savings or investment and this is the responsibility of parents. But if something happens that we don't want, such as death. By leaving a little treasure to our children, do we need to provide crypto investment education to our children? is it necessary?

We are in the world people are getting educated about cryptocurrencies, why not then educate your children about it, especially the shitcoins and scam that can let them lost coins, not even only that but also about the investment education you said, you can educate your children about how trading is and how it has turned some people that are rich before to poor person an how investment can be the best option, to buy the dip and sell high, that patience is very important before someone can be successful.

Vaculin

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Quote from: Tony116 on March 13, 2022, 02:35:33 PM

I already have kids, but I haven't thought about teaching them about crypto and investments. My child is going to preschool, I want them to have a beautiful childhood like a fairy tale and according to their wishes.
Crypto will definitely be used a lot in the future but I think we shouldn't rush them because they are big and know they will have their own choices and we are the only ones behind.

I always believe that there is a perfect time to teach our kids about crypto and that's when their minds are already mature enough to understand. For me, i have set my goal and that's when my children will be aging 12 years above. However, in cases of sudden deaths, maybe you could start teaching them during elementary years. Little by little, until they will come to realize at the right age that crypto investment is very vital. And by teaching your children from saving their money at an early age, you are already exposing them to crypto world.

stepwilli

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We all want give our best to our kids or family, that is why we are working hard right now to have a money that we can save for their future. If you are converting some of your money in crypto then yes you should educate your children or your family about it so that they will know how to use it if ever they haven't yet. You also need to tell them if where do you keep your wallet's private key or seed phrases so that in case of emergency they will know when to get it and they can unlock your wallet easily to use the coins.

Now, I understand now what economy your trying to say, it was wealth right? because I thought it was the literal economy and I am confuse if how it is related on your story.

kawetsriyanto

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Quote from: AnisahSiti on March 13, 2022, 01:11:54 PM

But if something happens that we don't want, such as death. By leaving a little treasure to our children, do we need to provide crypto investment education to our children? is it necessary?

Yep, it is really necessary.
That's why we need to educate our children, so they can be independent and survive even though we are no longer with them. If we want to leave them a crypto investment, they need sufficient knowledge to manage them. It will be useless if they have no knowledge to manage the investment, they cannot take any advantage by having it. Learning everything about crypto investment isn't something easy, it must take much time. So, we need to plan to educate our children if they are mature enough to learn about it. In my opinion, it will be easier for them to learn it with our guidance. We also can determine our target for their learning in crypto easily since we monitor their development constantly.

tabas

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Quote from: Freeesta on March 16, 2022, 02:02:47 PM

Of course it is very important how old your child is. If he is ready to learn information about cryptocurrency and this topic is interesting to him, it will be very good to introduce the child to this wonderful world. Otherwise, it makes sense to just leave funds for him in a bank account. Today, children are very smart and want to understand all things.

While most kids today are into technology, they can easily understand what we're going to teach them related to any investment and business matters and that includes crypto investing.
But if you want to teach them, do it gradually. As a start, teach them first how to save money and then next put it in the bank and then as well as putting it as an investment into bitcoin. That'll make them look easy as they do it but amongst the other kids, they're already advanced because of what we're teaching them.

henmark

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If you could teach your children something then it is great, but let us be honest and also realize that kids do not really understand classes all that well when they are young. How many of us truly remember the classes we took from age six to ten?

Those were not bad, we learned how to write and all, but there were many things that was taught and not really needed to be. We should focus more on life related stuff at those ages, and finance could have a part in it but maybe after being a bit older.

Things like math could be used, science, history, but in a way that would be more in real life related so that you could get their attention. Not "open up page 67 of your books" type of teaching, that's too old school.

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Quote from: AnisahSiti on March 16, 2022, 04:25:58 AM

Quote from: mamesso on March 15, 2022, 03:34:53 AM

How old is your child now?

My daughter just entered high school. I hope what I will teach can be useful for her in the future. I'll start with the basics first, or do you have a better idea?

Which country are you from, i mean here children who enter high school are on average 12-16 years old. at your child's age now of course it's a good thing if she gets knowledge from you about how to make money from crypto, your child will become a tough person and also have extensive knowledge compared to her peers later. teaching crypto to children from a young age is a pretty wise thing.

Freeesta

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Of course it is very important how old your child is. If he is ready to learn information about cryptocurrency and this topic is interesting to him, it will be very good to introduce the child to this wonderful world. Otherwise, it makes sense to just leave funds for him in a bank account. Today, children are very smart and want to understand all things.

merchantofzeny

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Quote from: Lubang Bawah on March 16, 2022, 09:42:36 AM

Quote from: merchantofzeny on March 14, 2022, 11:14:24 AM

Teach not just your children but your wife as well, on how to use crypto, so that if something should happen to you they got additional fallback. By including your family in learning crypto, they gain a certain advantage since they'd grow knowing an additional monetary system.

This is a good idea to introduce all family members to cryptocurrencies, this will train them to invest so that when inflation occurs then we can take advantage of cryptocurrencies, the other best way is to save money and direct to invest in cryptocurrencies so that they can be maximized.

Yes. Even if they do not go into trading and the likes, it's good to teach them about alternatives to fiat. For example, they can decide to save a portion of their money in crypto instead of banks.

Cryptocurrencies would become more relevant in the future so it's important that they know the basic. The age of the petrodollar is slowly coming to a close with KSA now considering selling oil to China for yuans - something unimaginable just a few years ago. We could be entering an era where no single currency dominate as the "standard".

Lubang Bawah

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Quote from: merchantofzeny on March 14, 2022, 11:14:24 AM

Teach not just your children but your wife as well, on how to use crypto, so that if something should happen to you they got additional fallback. By including your family in learning crypto, they gain a certain advantage since they'd grow knowing an additional monetary system.

This is a good idea to introduce all family members to cryptocurrencies, this will train them to invest so that when inflation occurs then we can take advantage of cryptocurrencies, the other best way is to save money and direct to invest in cryptocurrencies so that they can be maximized.

xSkylarx

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Quote from: LastKiss on March 15, 2022, 09:35:52 PM

Quote from: AnisahSiti on March 13, 2022, 01:11:54 PM

I am married and have 1 daughter.

As we know, the economy is very important for families, of course, to support daily life and plan for the future. In addition to working we also need a savings or investment and this is the responsibility of parents. But if something happens that we don't want, such as death. By leaving a little treasure to our children, do we need to provide crypto investment education to our children? is it necessary?

As a parent I want to give my best.

I want to hear your opinion guys.

Yea we should teach our kids the basics of investing but not only in the crypto space you can teach your kid the basics from investing in the stock market, property, gold, etc. Tell our kids the basic things about investment is necessary for this century but before that don't forget to teach your kid about manners, respecting other people, patience, and many more.

This is something I agree with. To summarize, we could say that they should be financially literate because doing so will increase their chances of being successful. We should guide them through the process of investing, as you can see now that technology is evolving and we must adapt to it in order to be successful in our endeavors. I believe that kids these days are easy to teach when it comes to this, and that we should simply guide them down the correct path because they do not have any previous experience in this area, allowing them to be successful.

AnisahSiti

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Quote from: Renampun on March 14, 2022, 09:11:53 AM

I am also like you and have 2 children (1 boy and 1 girl)...

I'm certainly worried about my children's future, moreover, I don't have a lot of assets that can be passed on to them, so I intend when they are 14 or 15 years old to introduce them to the world of the internet, especially cryptocurrency. We don't know when we will die, so education is the best inheritance for children. Don't hesitate to introduce your child to the world of crypto.

We are equal in terms of roles, parents. Yes, I believe in what I am going to do, the introduction of crypto technology to crypto investment in my opinion is important. Whatever the decision of our child later I will respect it, at least we as parents try to nurture and provide the best education.

Quote from: mamesso on March 15, 2022, 03:34:53 AM

How old is your child now?

My daughter just entered high school. I hope what I will teach can be useful for her in the future. I'll start with the basics first, or do you have a better idea?

CapGelatik

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Quote from: LastKiss on March 15, 2022, 09:35:52 PM

Quote from: AnisahSiti on March 13, 2022, 01:11:54 PM

I am married and have 1 daughter.

As we know, the economy is very important for families, of course, to support daily life and plan for the future. In addition to working we also need a savings or investment and this is the responsibility of parents. But if something happens that we don't want, such as death. By leaving a little treasure to our children, do we need to provide crypto investment education to our children? is it necessary?

As a parent I want to give my best.

I want to hear your opinion guys.

Yea we should teach our kids the basics of investing but not only in the crypto space you can teach your kid the basics from investing in the stock market, property, gold, etc. Tell our kids the basic things about investment is necessary for this century but before that don't forget to teach your kid about manners, respecting other people, patience, and many more.

In this case, the meaning of children is when they become teenagers because it is not appropriate if we teach them when they are young,
as long as they are really interested of course that is a good thing and we must guide,
By teaching us the basics about various investments, it will be an important capital for the future

LastKiss

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Quote from: AnisahSiti on March 13, 2022, 01:11:54 PM

I am married and have 1 daughter.

As we know, the economy is very important for families, of course, to support daily life and plan for the future. In addition to working we also need a savings or investment and this is the responsibility of parents. But if something happens that we don't want, such as death. By leaving a little treasure to our children, do we need to provide crypto investment education to our children? is it necessary?

As a parent I want to give my best.

I want to hear your opinion guys.

Yea we should teach our kids the basics of investing but not only in the crypto space you can teach your kid the basics from investing in the stock market, property, gold, etc. Tell our kids the basic things about investment is necessary for this century but before that don't forget to teach your kid about manners, respecting other people, patience, and many more.

AnisahSiti

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Quote from: naira on March 13, 2022, 02:08:03 PM

I understand your situation, how this is often an uncertainty for parents who want their children's future to know the world of investment. But I don't forbid, to introduce the crypto world, it's just that as a parent, it is enough to do basic things about investment knowledge. Because after all, everything must be adapted to your child's own psychology regarding the understanding, age, and development of concrete operational education. That's why there are elementary schools where things about education take place in them.

There is no need to rush just because you are familiar with the investment world, as a parent you also have to know and adapt your child's talents and interests. Not necessarily in accordance with what you understand. It could be that children's finances in the future are not in the realm of crypto investment. As a parent I give more freedom about this. Let the child develop according to the stage of development. We only act as a facilitator to fulfill what our children want so that it can lead to the development of their talents and interests.

Thanks for the advice, maybe I'm feeling a little bit driven by how I'm feeling right now in crypto, and maybe this is the effect of my concern for my only daughter. But I will still introduce crypto and blockchain to her, so that he is familiar with this new technology.

Quote from: Poker Player on March 13, 2022, 02:16:01 PM

I hope you have taken precautions if you have your private keys just in case. If you die, your house, your bank accounts etc. will be inherited by your children, but if only you know you have crypto in a hardware wallet, you have to have a plan.

There have been some threads on the forum about this:

What happens to my bitcoin if I die today?

What happens to your Bitcoin when you Die?

Thanks. Little by little I have planned my will regarding the crypto I have so that later when something happens I can give it to my wife. I have also introduced crypto to my beloved wife, how to access the wallet and so on.

retreat

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no debate, finance is the most important thing in a family. I don't have a family yet, but now I live abroad while studying in other cities, I already know what it's like to have no money, it's a broken feeling, just imagine if when we are married and our economy is destroyed, our children and partners will suffer.

Quote from: rat03gopoh on March 15, 2022, 12:54:03 PM

Sorry in advance, how can you ensure that you're gonna teach your childs crypto investing lessons properly at least pointing them to the basics?
If this lesson is considered important in the future and is a challenge, they'll learn it all without your direction. The thing you need to remember, crypto investment isn't guaranteed to be profitable. There are several areas in crypto that can be studied and guaranteed to make more than just an investment, such as coding, marketing etc.

I'm sure maybe this is what op means (teaching his child skills to generate crypto from coding or marketing).

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