Comments on: Teaching Children about Money: Ten Principles http://www.savingadvice.com/blog/2007/11/28/101923_teaching-children-about-money-ten-principles.html Bridging the gap between saving money and investing Sun, 12 Oct 2008 09:24:55 +0000 http://wordpress.org/?v=2.6.1 By: Stacy http://www.savingadvice.com/blog/2007/11/28/101923_teaching-children-about-money-ten-principles.html#comment-243442 Stacy Tue, 12 Feb 2008 22:01:59 +0000 http://www.savingadvice.com/blog/2007/11/28/101923_teaching-children-about-money-ten-principles.html#comment-243442 I think these are good ideas. It is good to be open (to a point) about money with kids. I especially like the part that was added about making kids wait to make large purchases. I think these are good ideas. It is good to be open (to a point) about money with kids. I especially like the part that was added about making kids wait to make large purchases.

]]> By: Jeffrey Reeves http://www.savingadvice.com/blog/2007/11/28/101923_teaching-children-about-money-ten-principles.html#comment-168719 Jeffrey Reeves Thu, 29 Nov 2007 23:15:37 +0000 http://www.savingadvice.com/blog/2007/11/28/101923_teaching-children-about-money-ten-principles.html#comment-168719 And you would expect one of the top ten principles to deal with saving - but, no. Lots about spending but nary a hint about saving. It seems paying a fee for finacial advice does not require the advisor to have judgment - just knowledge. Proof again that folks who take on the mantle of financial planning and write about money often are so bound up with conventional wisdom that they overlook common sense. And you would expect one of the top ten principles to deal with saving - but, no. Lots about spending but nary a hint about saving.

It seems paying a fee for finacial advice does not require the advisor to have judgment - just knowledge. Proof again that folks who take on the mantle of financial planning and write about money often are so bound up with conventional wisdom that they overlook common sense.

]]> By: Minimum Wage http://www.savingadvice.com/blog/2007/11/28/101923_teaching-children-about-money-ten-principles.html#comment-167597 Minimum Wage Thu, 29 Nov 2007 01:48:10 +0000 http://www.savingadvice.com/blog/2007/11/28/101923_teaching-children-about-money-ten-principles.html#comment-167597 I just tried out the millionaire calculator and came up with an inspiring result, which is even more inspiring after reading this post. If a parent invests $30 per month ($1 per day) at 8 percent for their child starting the day the child is born, and the child takes over at the point they are able to earn money for optional jobs, if they maintain this $30 per month pace, the child will ultimately have a cool million in about 814 months (68 years). Now THAT is a retirement plan I can relate to. I just tried out the millionaire calculator and came up with an inspiring result, which is even more inspiring after reading this post.

If a parent invests $30 per month ($1 per day) at 8 percent for their child starting the day the child is born, and the child takes over at the point they are able to earn money for optional jobs, if they maintain this $30 per month pace, the child will ultimately have a cool million in about 814 months (68 years).

Now THAT is a retirement plan I can relate to.

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