Taught my daughter the difference between an asset and liability

[Krysty Underwood]

So my daughter has shown some interest recently in the investments I'm working on, and we had a discussion today about what is an asset and what is a liability. I told her why i was working so hard now at investment and explained how this hard work now will make me money forever, and her if she wants it to. Shes 13 and wants to open a cat cafe, and I started asking her realistic questions, such as how she would fund it and keep it going, how to train people so she could open more in other cities, etc. We discussed how right now she needed to learn and save and make small investments as she found opportunities. I gave her some of my transcription work to proof for five cents a minutes (after she read and signed a contract, filled out a w9, and signed an NDA of course) and she made 45 cents for about 15 minutes of work. I thought she would get frustrated and try to quit. She smiled and handed back 32 cents (she put the other 13cents back for taxes) and said, "I'd like to invest in Elite REI," my company, "put this towards your next deal." Yep, I think I've got a pretty smart kiddo. :)