Teaching my kid to invest

[Eric Allen]

Hey guys 

I have been in the rat race for years. As a matter of fact under the rat race for years.  I want to get my kids on a great track to financial success.  They are entering their teenage years.  If they both start out with just $100 each, what would you do or teach them to get them working toward a track for a great financial future?

thanks

Eric

[Michael Boyer]

Couple of ideas:

Money Makes Money Theme: Let them buy a share (or few) of stock/index fund in a UTMA account..The goal there is to, ideally, watch it grow over time. The real dividend may not be the dollar return on such a small scale but generating interest in investing, financial news, and the realization money can grow. They may get more than 100 bucks worth of education if they start following the stock/shares, reading reports, watching the financial channel, etc.

Start Up/Hustle Capital: It may also be a chance to let them start something up on their own, be it buying and selling something online, an odd jobs business in the neighborhood, etc. Similarly, the education may be the dividend on seeing how real markets (for goods and services) work and how you can play a part. This one may require some oversight to make sure they are safe, legal, etc.