How do you educate your children on investing and entrepreneurship?
Here's a quote from an article I wrote about my children..... I think they got it!
We gave each of them a handful of sunflower seeds and explained how money and investing works. We told them that now that they have the seeds in their hands they have a few options to decide upon. One is that they can eat all the seeds now and will have to work for more tomorrow or they can grow them and then eat some of the seeds that come from the sunflowers they grow. They chose to grow their seeds, so we then discussed the approach they would use; they could just scatter them everywhere and hope they land somewhere and grow (gambling) or they can give the sunflowers the best chance by preparing the soil and looking after the seeds as they germinate (education).
Once the sunflowers grew, we explained that they represent how money works in society and most people just choose to eat their seeds on the day they receive them without knowing that each seed can harbour many more seeds for future use if some thought was put into it.
Here's a quote from an article I wrote about my children..... I think they got it!
We gave each of them a handful of sunflower seeds and explained how money and investing works. We told them that now that they have the seeds in their hands they have a few options to decide upon. One is that they can eat all the seeds now and will have to work for more tomorrow or they can grow them and then eat some of the seeds that come from the sunflowers they grow. They chose to grow their seeds, so we then discussed the approach they would use; they could just scatter them everywhere and hope they land somewhere and grow (gambling) or they can give the sunflowers the best chance by preparing the soil and looking after the seeds as they germinate (education).
Once the sunflowers grew, we explained that they represent how money works in society and most people just choose to eat their seeds on the day they receive them without knowing that each seed can harbour many more seeds for future use if some thought was put into it.