Becoming a dad was one of the biggest things that motivated me to take control of my finances. I never wanted my kids, now 12 and 9, to feel overwhelmed or intimidated by money.
So before I turned 40, my wife and I paid off more than $250,000 of debt, started investing, and built a net worth of $1 million. Along the way, we launched Parent Portfolio, a personal finance blog to help other people build wealth and raise money-smart kids.
Talking about money is a regular practice in our home. Our kids don’t see money as a mystery box, but as a tool that they feel confident about using.
Simple, memorable phrases grab their attention far better than long, boring lectures. Here are five phrases that genuinely excite them about saving and investing for the future.
When I first said this to my kids their eyes widened. The idea of earning money in your sleep sounds like magic to a kid, and that’s exactly why it works. I explained that it’s not magic at all. It’s compound growth through investing.
