Welcome to Kid Wealth, where kids (and their parents) learn to take control of their money.
Kid Wealth is for both parents and kids. Initially, I’ll be focusing more on parents. That’s my most recent experience. I’ve got 35 years of rust gathered on my kid experience. Don’t worry if you are a kid reading this. I’m going to need your perspective to make this work. It’s going to take a real team effort.
For now, I’ve got a message for each of you. Feel free to spy on each other’s message, we don’t need to have any secrets here.
To the Parents
We all want our kids to have a better life than we had, right? One of the best ways to ensure that is to have enough money.
I know what you are thinking, “Money doesn’t buy happiness. I don’t want my kid thinking that it does.” I don’t disagree. That’s why this website is called “Kid Wealth.” Wealth, by many people’s definitions, can extend beyond money itself.
Besides, even though money may not buy happiness, it can help you avoid the stress that is associated with unhappiness.
To the Kids
You’ve got the more difficult job here. It’s your money and your hard work that went into making it. Parents have it easy, they only have to talk about money. Talk is cheap, right? So while this may seem like a lot of learning and a lot of doing, I want you to note one very important thing.
Mastering money at a young age is much, much than when you are older. You’ve got much more time for compound interest* to help your investments grow into millions of dollars. You’ll be amazed at how much money you can make without doing any work at all.
Doesn’t that sound like something worth learning and working for?
* If you don’t know what compound interest is, don’t worry about it. We’ll get to it soon.