When my son was 15 I wanted him to learn how to buy and sell stocks on his own by researching companies and following the market.
I told him that I would match him every dollar he invested but if he ever pulled the money out he would have to give me back what I put in. As added incentive, I told him he could keep any gains, even off my portion. He agreed.
I explained to my husband that this was a life lesson and even if he lost money, I would rather he lose thousands now rather than millions later in life. Learning to take calculated risks is part of being financially intelligent.
This was one of the best things I could have done for him. He’s 18 now and his knowledge as far as investing rivals any adult I know. He’s made some good and bad choices, but overall he’s way up.
Teaching kids to be financially intelligent will pay you dividends for years to come.
