What difference would it make to your child’s future if you could inspire them to pursue trading or investing early in life?
I mean really early – like start investing before they have even left school.
For example, Warren Buffett purchased his first stock at 11 years old!
Do you remember any moments in your childhood that inspired you to want to do something in your life?
I don’t just mean happy memories, I am thinking of those things that really caused you to think about investing for your future.
I have one memory that I wanted to share which has really influenced my path. When I was a young teenager I played a board game called “The Stock Market Game” over and over with my family. I was fascinated by how we could make so much money from the prices of companies going up and down.
The game covered capital gains, dividends, earning money to pay for share purchases, probability, stock splits, broker costs and sudden unexpected requirements to sell shares (with a hefty penalty). All of these are valuable lessons which I still carry with me!
Fast forward to today and as a trading coach and educator I am doing my best to teach my kids about how to trade in stocks. I have:
- played that original Stock Market game with them
- invented games to teach particular lessons
- paper traded with them.
- spoken regularly about my own trading results with the kids
- shown them price charts and where my entries and exits were so they can figure out the gains.
I would love to hear about your experiences either as a child or with your own children:
How did your parents teach you about money and investing when you were young?
How have you captured your child’s imagination about trading or investing?
What are you doing with your own children to teach about money and investing?
Please comment below and share your stories!