We started the financial education for our elder son when he was 6 years old. His weekly allowance was $2. He was told how to save his money in the piggy bank and how to make record using drawing. When he was 7 years old, his weekly allowance went to $3. At the time when he accumulated his money up to $100, we took him to the bank and invest his $100 in Stock market. He had lots of fun watching his stock went up and down through the computer, and it is really effective to learn investing with his own money. According to our experience, children are better off investing in individual stocks rather than a mutual fund. With stocks, children are introduced to the idea of owning a piece of a company, and kids are good at learning investing way more than you imaging.
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Lillian & Benjamin, we help families achieve financial success
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