The new book: Build Your Child’s Mountain of Money sets your children, grandchildren, and teens on a road to Financial Freedom, following simple rules on saving and investing, by STARTING EARLY. You don’t have to be a pro at investing to learn the simple strategies laid out in this book. The book is meant for beginners and those who have not invested before.
About the Book
While the FIRE movement (Financial Independence Retire Early) proposes saving and investing at ages beginning in their 20’s and 30’s, the FIRE-SE idea gets parents and grandparents to involve their kids and grandkids at BIRTH thru AGE 17.
By starting EARLY, the miraculous power of COMPOUND INTEREST can be put to work to create a Mountain of Money by investing in dividend stocks (or the simple method of investing in the overall stock market by buying the Exchange Traded Fund with the stock symbol SPY).
The purpose of building a Mountain Of Money is to generate a PASSIVE INCOME stream that will create Financial Freedom: which is achieved when PASSIVE INCOME from dividends equals or exceeds SPENDING. Once achieved, Financial Freedom gives people the opportunity of many lifestyle choices, including the one they are already on.
Financial Freedom also allows the opportunity to try a new career, work part time, start a new hobby, or any number of options. This is a long term strategy that takes into account the ups and downs of the stock market.
The book lays out specific protocol for saving at various ages, opening a stock account, and how to invest in dividend stocks.
PARENT AND CHILD INTERACTION is encouraged through quarterly NET WORTH calculations, which is used to track the growth of the Mountain of Money. It is suggested that each quarterly review be used to teach the child about saving, investing, tithing, and many other financial terms. This sets the child on a path of saving and self investing once their employment begins. If you’re home schooling your child, this book will be an excellent tool for imparting financial concepts.
The book lays out important guidelines on SAVING, SPENDING, AND GIVING, and concludes with a final note directly to TEENS about how to find a rewarding career.
Can your child become a millionaire? Absolutely!
"Success is the accomplishment of a predetermined goal - START NOW"
Build Your Child's Mountain of Money
FROM THE AUTHORS
We each learned lessons on our life- treks that led us to a very real awareness of the need to understand and direct our personal financial futures. We share a few of the lessons here, hoping that you'll use them to build a strong, self-directed financial path and avoid some of the learning curves we experienced. Enjoy the lessons, talk with your family, and grow your relationships as you grow your child's Mountain of Money.
"This is a great introduction on how to get started on long term investing to build wealth. It has an emphasis on some simple but often ignored strategies such as dividend reinvestment. To illustrate these, some simple graphs are included to show the potential benefits. I especially liked the very specific steps that parents can take to get their child started early."
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