All Forum Posts by: Account Closed

As you own the property, you own the problem issue. This is the annoying things of a landlord. Do not just throw it in the street. But I wonder who is your property manager? I think your PM has then responsibility to deal with it. Ask for help.

@Account Closed and @Tanner Marseyas a fellow educator I agree we do not teach personal finance in schools.  There are only a handful of states that require a personal finance class in high school.  I recently looked a personal finance teachers curriculum in Tennessee it made  me want to jump out of the window.  It was so boring.  I am not a conspiracy theorist, but I do think the government does not want real personal finance to be taught in schools because they essentially can put a 18 year old into massive debt sometimes student loan debt that they might be unable to ever payoff given their career/school selections.  With that said, I think it is  important to teach our own children and my students when possible about personal finance.  I really like Mike's choice he gives his son.  So much of money is opportunity cost.  The sooner someone can understand this concept the better their life will be.  I have a 2 year old, and when someone gives us money for him, I put it in his Ally Bank Account which returns 2.2 percent a year, and once a year I plan on matching his money another 8 percent.  I want him to understand a early age that leaving his money in this account will make him money.  I also think it is important to not say no when he ask for the newest Xbox or bike, but rather say ,"how can you afford this?"  Pick up cans? Mow lawns? Help me at work? Help grandpa at his farm? I want him to start fishing from an early age.  Mr. Money Mustache has a great article on this subject.  Hope this helps.  Let us know what you come up with.  I love this subject.  https://www.mrmoneymustache.com/2015/05/20/what-im-teaching-my-son-about-money/

 Unfortunately, you are correct.  I used to coach that same age group, for many years.  Through the years, kids attitudes and action/reaction to the same situations have changed.  You still have to two opposite sides, but as long as my daughter (and the kids I coached) would listen, I took advantage of the opportunity and showed them what their futures could be.  The ones that didn't want to listen (unless the noise came from their earbuds), I figured would be their customers.

This is a very different time, with very different timelines.  Everything happens much faster now.  Kids, whether they understand/believe it or not, (and this is for parents too) are victims of the "information age".  That information age also provides their form of "fun"...so, you can either treat it as a separate thing, or use it as the new conduit from the real world to their virtual world...and teach them while they have fun.

Like I said earlier...why can't you do both? 

 Ok, yes totally unclear because that was exactly how I took it. Now showing your kid there was another option rather than flipping burgers is a great idea, as can be trades (especially if they own the business). 

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When it comes to teaching kids about real estate, I think that is a great idea. Over the past 6 months I have created a business with each of my oldest kids and have purchased a property with each of them. They are learning how find an investment property, how to run numbers, and how to manage a property. To be honest, I do most of the work right now but they are learning. The property should be able to pay for a year or 2 of college when they get older, or they can learn how to reinvest it. 

@Account Closed Have you given them the classic ? Rich Dad Poor Dad?