>> OT...advice to kids about money
I've been following this topic with interest and have to offer my .02. There is no one right way, whether you're talking about investing or life. I have dear friends of 30 years who have 7 beautiful daughters. Six of them breezed through wonderful childhoods, and achieved outstanding success academically, athletically, in their careers, and with their own families, while one of them fell prey to every possible problem in life. How can that be, when each was raised in the same privileged, loving household?
The answer is obvious to those of us who have raised families. Each child is a new universe, to be dealt with in a unique manner.
I have been discussing investing with my family since I became addicted in the early 90s. My daughter opened an ira while she was in college, using money from her part time job. Now that she is on a career track, she contributes the max to her 401K, and regularly moves excess cash from her checking account into stocks in her trading account, which more than tripled last year! I've encouraged my 22 year old son to do the same, but he has put most of his earnings into his 1970 fj40 Land Cruiser.
Love them, teach them, but most importantly, listen to your kids, Stan. They'll tell you who they are if you just listen.
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