By Andrew Nyquist
Tech boom. Hotmail. 9/11. Market crash. Middle East wars. Housing bubble. Another market crash. Facebook. Twitter.
The past 25 years has ushered in social change like we’ve never seen before. Through all the twists and turns and frets and fears, Americans have adjusted their focus to the here and now, managing “today” like there’s no tomorrow. But it’s the “tomorrow” part of the equation that’s the most important. And the foundation for a better tomorrow starts with investing in our children.
Yeah, it’s time to let go and sacrifice our personal fears about today, so we can build a better tomorrow. It’s time to teach our future leaders a thing or two about entrepreneurial spirit, Can Do attitude, and gratitude for what we have and what we can achieve. Back to the basics my friends… before all the “Events” altered the way we live our lives. Here’s three ways to promote investing in our children:
1) Teach them how to be entrepreneurial. Sounds difficult, but it’s not. It’s quite simple in fact. Think kool-aid stands and ice cream cones, baby-sitting and dog walking, mowing lawns and shoveling driveways. Brings back memories, huh? How about an allowance for a set of chores? Or $ for good grades. Set up a savings account/college fund and match dollars to their savings. Allocate a small amount to invest with them, in stocks they know like Apple (AAPL), Google (GOOG), Amazon (AMZN), Nike (NKE), or Abercrombie & Fitch (ANF). And give them a budget whenever possible. Draw them in and make them a part of their own future. Promote creativity and teach them to “want” it and to work for it.
2) Promote a can-do attitude. Today’s world has become a bit cynical, so let them know everyday that they have the ability to effect positive change. Be their biggest supporter through adversity. And don’t be afraid to embrace technology — it will drive the next generation (and I’m not talking about video games!). Encourage their involvement in competitive activities: sports, student council, debates, writing, etc… Teach your high schooler how to be more marketable.
3) Remind them how fortunate they are. Give Back. Economic hardship brings us closer together. Frustrating, yes, but it does illuminate the simple things in life. Family, friends, food, games, outdoors, education, sports, etc… Get them involved in their community – there are so many non-financial ways that they can give back.
Be involved and Stay involved. Love them like there is a tomorrow. Investing in our children is the way to a better tomorrow. Have a great day.
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No positions in any of the securities mentioned at time of publication.
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of his employer or any other person or entity.