Hope everyone is having a good week! I have a parenting money question: When do you plan to (or did you) talk to your kids about investing?
I grew up in a house where I was taught to save my money, and I’m grateful for that. However, we never really talked about investing.
As a result, investing for me has mostly been limited to my 401(k). I recently opened a Robinhood account to invest in an ETF via the dollar-cost average method. (I know a few bucks a week won’t make me rich, but you have to start someplace, right?)
That left me wondering if I should be doing more to teach my 12-year-old about investing. I certainly don’t feel like an expert, and part of me thinks that she should focus on saving instead.
But another part of me wonders if she wouldn’t benefit from learning early by investing just a little bit of her money. Recovering from the loss of a small amount — even if it seems big to her at the moment — could still be a valuable lesson.
So for those with kids in their lives, how have you approached investing, if at all? And if they do invest, do your kids have separate accounts? Just looking for a jumping off point — thanks!