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And his mother encouraged him to do this
Most people don’t start investing until their 30s and, more seriously, in their 40s.
How did you get into investing so early?
He told me that his mother encouraged him to do it.
As soon as he started his carer, he started investing in his 401k and living below his means.
Brilliant.
She wasn’t formally educated.
She migrated over from another country.
She wasn’t wealthy or financially well off, but she was a catalyst for her son.
I wonder if he would have started investing if his mother didn’t strongly encourage him to at such a young age.
Parents Have Considerable Influence Over Their Kids
What if more parents could encourage and educate their kids on personal finance?
The outcome would be glorious.
Because schools sure aren’t teaching our kids about money.
The primary places you learn about money are at home, online, or in books.
You learn about money through your efforts.
Thankfully my parents introduced my siblings and me to money at an early age.
We read Robert T Kiyosaki’s books at the dinner table as kids.
Much of the information went over my head at the time, which is why I have re-read the book numerous times until it finally made sense.
But the concept of learning about finance and improving my financial habits stuck with me.
Thankfully my parents also introduced my siblings and me to ROTH IRAs when we were still kids.
Did we maximize their utilization?
No, but we started the process of consistently investing, which also stuck with us.
We knew the value of savings and the consequences of not saving.
Creating a successful financial future can come to anyone.
We see people who turn their financial situations around at all ages, but it’s much easier to experience financial success when you learn about money as a kid.
It’s primetime because we have so much elasticity and open-mindedness when we’re kids.
It doesn’t go away, but the exponential value learning about personal finance so early provides is unmatched.
Maybe You Didn’t Get It Right, But You Can Still Help Your Kids
Most parents are struggling financially.
Most people, in general, actually.
But the more you learn about finance, the more you can teach your kids about finance.
If you’re intimidated by the subject and don’t know much about it, read books together as a family and learn together.
My parents weren’t financial experts.
We were all learning financial concepts together as a family.
If you desire to break generational curses, you got to start with your kids, the next generation.
So they can then teach their kids, and so on.
It’s not so much about passing down wealth.
It’s about teaching your kids to create wealth for themselves so that they can be financially independent.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.