Pay your kids to read these books
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 types on investment strategies to a young mind you might see how many challenges there are. Having some good resources, a large dose of patience and a long-time horizon is a great recipe for success. In regards to resources, books can really help speak to kids at the level they are and lay the ground work for some bigger conversations down the road. Books also help to act as a starting point or a spring board into questions and offer some much-needed structure to the learning process. Here are a couple 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 book does
- “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 that you have read and 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!