Investing for Kids
Today I put in an order to buy $146 worth of Microsoft for my sons' accounts. I am trying to take steps while they are still young (ages 8 and 9) to teach them how to grow their money. It has been a lot of fun.
My wife and I give them an allowance each week. They get $1 for each year of their age (the oldest gets $9.00 per week and the youngest gets $8.00 per week). We require them to pay tithe (10%) and put 25% in each of their long-term and short-term savings accounts. They get to spend what's left.
Once they accumulate enough in their long-term accounts, I pull it out and invest it for them. I'm hoping that by doing this, I will be teaching them how to use their money wisely. Time will tell I guess.
Tags: Allowance, Investing, Microsoft, MSFT
My wife and I give them an allowance each week. They get $1 for each year of their age (the oldest gets $9.00 per week and the youngest gets $8.00 per week). We require them to pay tithe (10%) and put 25% in each of their long-term and short-term savings accounts. They get to spend what's left.
Once they accumulate enough in their long-term accounts, I pull it out and invest it for them. I'm hoping that by doing this, I will be teaching them how to use their money wisely. Time will tell I guess.
Tags: Allowance, Investing, Microsoft, MSFT
posted by JLP | 9:03 AM
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