2 of the best holiday gifts you can give your children! | Traders Journal

Let’s start with the conclusion.

As parents, the reason we are here on Earth is to pass on to our children the life skills they need to succeed. Everyone talks about leaving a better planet for our children. Why not try to leave our children better for the planet? I submit to you the two most important gifts you can offer them:

• Give them the gift of one-on-one time.
• We help you cultivate a financial mindset and money-wise toolkit to ensure long-term success.

As children, money management may not seem like an interesting topic to them unless their parents make it so. One day – sooner or later – these financial capabilities will become essential to their lives. Success means different things to different people, but 99% of these definitions should be built on a solid financial foundation. Money literacy leads to future financial freedom, which in turn leads to success in life. Here are some thoughts, suggestions, and routines that I encourage you to embrace this holiday season and all year long.

1. It goes without saying that parents are important role models. It’s realistic to assume that children will imitate their parents’ money habits. Act accordingly.
2. Make conversations about money and finances a part of your regular routine with your family every day, week, and month.
3. Discuss openly any past or present money-related mistakes. This kind of preliminary discussion creates a bonding effect, not to mention ongoing learning. Be honest about the consequences of cryptocurrency transactions that don’t go well!
4. Fact: Children learn much faster than adults. The time you spend with them has a huge impact.
5. Keep it simple. There’s no need to jump into explaining index funds, ETFs, or stocks. Start with basic financial issues, such as discussing allowance savings, explaining credit cards, interest rates, and debt risk. My favorite thing to do is give some examples that demonstrate the magic of compound interest. Then, just for fun, chat about taxes and our beloved IRS.
6. Actions speak louder than words. Depending on their age, help your child open a bank or brokerage account. When your monthly account statements arrive in the mail, give them a sense of ownership.
7. Teach your child to listen to money issues, financial topics, and investment ideas. Simple awareness of such topics will have a lasting, positive effect.
8. Discuss and explore their saving and spending habits. Talk about how this relates to their “wants” and “needs.” Be creative. Make it fun. Please note that everyone is different. Most importantly, don’t make it a chore or a stressful problem.
9. Lastly, you can do what I did and write an investing book with your kids! It’s a tremendous learning experience. Of course, I’m being tongue-in-cheek, but books, videos, and websites like StockCharts.com provide incredibly interesting topics to share and discuss.

So I return to my conclusion. Having regular one-on-one conversations with your children about money and investing will help them acquire essential financial skills and tools, which will have a positive impact on their future lives.

Lastly, I would like to say this. Don’t expect your child’s teacher or professor to take on these responsibilities. It’s all up to you, mom and dad!

Have a good deal. Trade with discipline!

— Gattis Rose

bonus: This is my gift to you this holiday. We’ve been crazy about Black Friday and Cyber ​​Monday sales, so we thought it made sense to extend some of our December deals to you all.

For those of you who prefer watching DVDs to reading our books, our Blu-rays have been heavily discounted. 10 Essential Steps to Stock Market Mastery.

The asset allocation DVDs Grayson and I produced are also heavily discounted. This is another great stocking item for parents trying to increase the financial IQ of their younger generation.

I hope you have good investment success in 2024!