Comments on: Give Your Kids An Edge – Teach Them About Money Early In Life (Post 2)

By: vicki s

vicki s — Thu, 08 Jan 2009 19:07:27 +0000

I work in the financial services industry and have to say it is VERY alarming how little a large number of consumers understand even basic finances. Start the concept of managing/saving money early with your children. Many financial institutions offer not only incentives for saving but educational materials free of charge to help parents have meaningful discussions on the subject. Look for materials that talk about financial concepts in general and not account information specific to the sponsoring bank. It is readily available out there….

By: Mike

Mike — Wed, 07 Jan 2009 20:13:26 +0000

perhaps one of the greatest investment tools for our children is ROTH IRA’s. It will teach them how to nvest and help them to pay attention to market influences. And if they start young (when they start working which is when they are
eligible) the compunding return on investmnent over 40 years gives them a nice nestegg even if they have to stop investing as they get married/start a family/buy a house etc. as long as they can avoid withdrawals. However by then they will hopefull know the first rule is to pay your savings first.