Can your kid invest?
Are you surprised by this question? Please don't be. I am just thinking of where I would have been by NOW supposing I had this early exposure to the world of investing. This is not just about having ‘the [enough money’ to be one of them but first just having the foreknowledge. Never underestimate a man with enough knowledge. Ok, not ALL of us grew up in the rich/investment mentality family. We have had to discover something for ourselves.
A billionaire author once said, what the rich teach their children, the poor don't; he made a lot of point there.
It is one of the mistakes I must make sure I correct when raising my family. Not that I am trying to teach them as the poor anyway; I have passed that poverty stage. The fact here is that all parents should strive to teach their children financial intelligence no matter how much they earn daily. One of the big mistakes parents make is allowing a child to realize the needed when they have elapsed so much time.
I keep saying, we have to erase this siloed school system mentality, it is taking us nowhere. Am I against school now? Mind you, that is where I learnt how to read and write. My challenge with them is that they are still presenting something obsolete and brainwashing many to follow suit.
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The era of a well paid and secured job is over. employees are no longer hot cakes. The labor market is full of educated people with poor pay just because the scale has changed direction; instead of seeking more employees, we are looking for more employers.
To even shift this matter further, we are swiftly Moving into the era of ‘more investors’. This is where I will be centering so as to help combat what is coming in the future. Parents need to situp or raise a generation of frustrated individuals. We are already seeing this even in this current economic phase, the matter will get worse without this attention.
There is a lot to teach your children; from the online financial market, offline businesses, savings and financial habits like long term thinking. As I earlier said, you don't need money or too much money to accomplish this in their life. There are many demo accounts you can use to accomplish this.
Adding to that, this is where web3 will also help out. You may be imagining how? Here, anything is investable. Just think of creating a small portfolio account maybe for instance on your Hive account to expose your children on how to save HBD, LEO or Hive for dividends from APR.
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It doesn't matter if the entire account is worth even a dollar, the level of knowledge and exposure you have given to that child is something that will speak a lot into his future. You can in the process study his financial habits. Secondly, it will even help bring you up too. You have to understand you will be their financial adviser while also recommending some books for them to be reading.
We are entering a future beyond just working, anyone who is not well acquainted with investing and compounding will be lacking behind financially. AI will take over the workforce industry, this is something I have explained in several posts. The worry of what will be the fate of employees can take that U-turn NOW if parents start prioritizing financial education for their kids.
To conclude, let me add, beyond just taking time to help your children do their homeworks, parents need to rise to the responsibility of educating their children about the world of finance.
As I earlier said, the gear has switched; value for employees has died down. entrepreneurs are currently after investors to help push business further. Where would you rather want your children to be; wait on the line for jobs that are not secured and even not paying well.
Absolutely not, the world needs more financial exposure and the best way to practice this is at early stages. Tech has brought in a lot of investment advantages when talking of cross border and even decentralized investment opportunities. I touched this a little when I was tipping what web3 has to offer here.
Aside from where actually to even invest, my concerns in this article is how children should have the foreknowledge of how assets can be grown. It goes beyond working by yourself; money is a worker. This mind shift is needed
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