My 9-Year Old Daughters Money

[Andres Piedra]

I've been slowly teaching my daughter about compounding, not buying candy and other junk just because it is shiny and temporarily cool and that real estate is a great way to make a future. (Yeah, she's nine, but I wish someone told me all this at 9). She has saved up a few hundred dollars and then suddenly wanted to spend it on crap…..all of it! I keep advising her to add to it and let it grow, Grow, GRow, GROw and GROW! And, eventually she could own an entire city.

Then I said, "Ya know, I think with your $179.82 you could buy the entire city of Detroit right now!" Was that wrong?