Kids and the Stock Market with Howard Lindzon
My dad never understood the stock market.
He came from an era in which survival was on the top of his mind, not making money.
Only rich people “played” or invested in the market in his eyes. Due to this my dad never took a chance with the market and instead taught me the importance of saving your money and the value of compound interest.
Those were great things for me to learn about and it gave me a strong foundation when it came to finances.
I didn’t learn about the stock market until my senior year in high school. Even though I was an A student and learned quickly, my dad still didn’t believe in my ability. We left so much money on the table since he didn’t think I knew what I was talking about and to be honest, he made the right choice. He didn’t know anything about the stock market so why would he put his money on the line to see if I was right?
Stocks, start them early
It’s pretty evident that I will try anything to help my kids learn about cash, heck, I even joined my son’s reselling business just so I can drop gems at will without the pressure. You can hear about it in episode 51.
I am a firm believer that the earlier we expose our kids to things the better they ARE! By starting early, kids can learn more while also working through any failures they might come across especially when it comes to the stock market. Think about it this way, a young adult at 18 can risk some of their money, lose it and recoup it way quicker than someone in their 70’s that’s retired.
Learning about stocks didn’t come from my dad and I wish it had. Who knows what would have happened.
Instead, I had to learn it by myself and now I really want my kids to learn about it as well. But how do you teach your kids about the STOCK MARKET without boring them or forcing them?
The Stock Market with Howard Lindzon
In true #FatherhoodIsLit fashion, I wanted to know how someone who has had success in the stock market teaches their own kids about it. Do they grab a book and make them read it from page one to the end? Or do they make them watch CNBC all day? All things I have tried and failed.
Howard has been investing in the market all of his life and has made serious money to prove it. You can catch him online dropping gems on StockTwits, his podcast Panic With Friends, or his world famous Newsletter about life and investing.
He dropped gems on our podcast but this one really stuck with me. Howard said; look at what your kids spend money on, have them invest a small amount like 10% of what they spent, on that companies stock.
Pure genius! If your kids love something, why not have them invest in it? If they can spend $240 on yeezys why cant they invest $20 into Adidas stock? That one small investment might lead to many more investments and years of learning without them thinking twice about it. It also keeps them involved.
Howard dropped gems on getting your kids started, why it’s important to do so at a young age, making it fun for them and how you can do it all with less than $500.
It’s fair to think you need tons of money to make money but that’s not the case. Howard talked to us about fractional investing and the lessons that come when you don’t have millions to invest.
I look at my kids now and say, “damn imagine where I would be if I knew all of this at a young age like them!”
That’s the ultimate win in my book. We all say we want our kids to be better versions than us, it starts with teaching them everything we didn’t learn at their age.
There are tons of ways to invest in your kids come up, take the time to do so. It might not translate to millions of dollars but educating them is the greatest investment we parents can ever make on behalf of our kids, make your presence felt!
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- Enforcing lessons without forcing them
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