Take Your Kids Along with You on the Journey of Real Estate Investing
Want to do your kids a financial favor? It’s time to add real estate investing to your duties as a parent.
When you become a parent, your first goals are simply to invest in your child’s health and well-being. You feed and clean them. You help them fall in love with the right foods. And later, you teach them to be kind to others and the world around them. As your child grows, so will your role as a parent. Eventually, you will need to show your children how to be functioning members of society and how to make a living for themselves. And it’s never too early to start learning the value of a dollar.
Here’s why you should share the journey of real estate investing with your kids:
Real Estate Investing Holds Big Career Potential
Many people choose to invest in real estate as a way to earn extra income. Others make it their entire career. In either case, real estate investing holds a lot of potential.
Real estate is one of the top ways to build wealth. Most notably, it’s one method to generate passive or mostly-passive income. Generating wealth at an early age sets a strong foundation for the rest of your child’s life and can help them provide financial security for their own families.
As a teacher and parent, showing your children about real estate investing allows them to help themselves when they’re ready. You’re supplying them with the knowledge and tools they need to make good investment decisions and showing them the ins and outs of how real estate builds wealth. A high-paying “regular job” can achieve financial goals, too, but with real estate investing, the potential lies in their own hands.
Apply Real Estate Investing to Other Major Money Choices
What your children learn in real estate investing can be applied to other types of investing. They’ll learn about risk and ROI and how to spot a good deal when they see one.
Once they understand the value of money and how it grows (or shrinks, in some cases), they can use this knowledge to invest beyond real estate.
Be the Family that Invests Together
If you’re into real estate investing yourself, including your child in your deals can help them learn more and learn faster. They can soak up how you conduct conversations and how you make new connections, even if they’re not actively participating. And later, as they get older, you can start delegating tasks that give them hands-on learning. They become ingrained in the industry and learn through first-hand experiences, not anecdotes and textbooks.
One of the greatest gifts you can give your child as a parent is to help them set themselves up for a prosperous life early on in adulthood. The cost of living continues to rise, and young adults are in more debt than ever. When they can start life on the right foot, they can stress less and enjoy more of what life has to offer.
For more tips on young real estate investing, head back to our blog.