Stay informed with our free disruptive technology investing newsletter, Nanalyze Weekly. Sign up now at https://www.nanalyze.com/nanalyze-weekly/. This episode is pulled from a YouTube presentation. View the original presentation at https://youtu.be/FwHaJv31T0I.


Financial advice for kids doesn't have to be stuffy and boring. There are three things your kids need to learn about when it comes to basic financial literacy - making money, saving money, and generating a return on money. Those are listed in order of importance, so they need to figure out a career that makes decent money. Whenever or however they start accumulating money, they need to start saving money because the time value of money is the single most important factor when it comes to accumulating wealth. Saving money happens more easily living below your means and distinguishing between needs vs wants. You need a car, but you want an expensive car, for example. Teaching kids about money early on instills good money management habits that will last a lifetime. Probably the most important asset a kid will ever have is their work ethic. If you want to be rich, you'll need to work for it. It's much easier than you might think to become a millionaire, but you see so few of them because most people lack the discipline and patience required to properly accumulate wealth. Teaching kids about money starts with this video.

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