How Do I Reward My Child To Read?
Investors know that a good and wise investment pays off in the long run. But have you considered more specifically the investment that you are making in your kids? If you have ever tried to explain real estate investing or other investment strategies to a young mind, you might see how many challenges there are. Having good resources, a hefty dose of patience, and a long-time horizon is an excellent recipe for success.
In regards to resources, books can help speak to kids at the level they are and lay the groundwork for some bigger conversations down the road. Books also help to act as a starting point or a springboard into questions and offer some much-needed structure to the learning process. Here are a couple of great books to incorporate into your toolbelt or resources in training your children and investing in a bright future:
"Investing for Kids – HOW TO SAVE, INVEST AND GROW MONEY”
Age Range 8-12
This book by Dylin Redling and Allison Tom is worth the time investment in reading. You will find practical advice with a kid-friendly focus. Schools do not put much focus on teaching these topics, so this book is a great supplement to your teaching resources.
"The Kids' Money Book – Earning, Saving, Spending, Investing, Donating”
Age Range 8+
This book by Jamie Kyle McGillian is another good option to get your kids learning about investing. You will see a brief history of money, such as bartering, coins to cash, etc. Get your youngster thinking about earning, budgeting, and spending, and dive into some great discussions with some real-world examples.
As a final thought, re-read some of the books you have read that have shaped your outlook on money and investing, and share some of the highlights with your kids. Remember, investing is a journey, and how we learn, think, and grow is a process that takes time but one we need to nurture and develop – especially in kids! We may be a property management company, but we know a thing or two about investing and teaching children about it!
