1 – Have your children get a job. Preferably self-employed. Two of my children are running a garbage route. I am guessing that they will have stories and a work ethic that far exceeds their peers.
2 – Teach your children to invest their money and the value of a dollar saved. My youngest child has $6000 from money invested from collecting aluminum cans. He is 10 years old and it is in a Roth IRA (all of the money was “free” money from money people leave on the street for us).
3 – Teach them about the value of investing and tax free growth. Use the story about the “King of Silver Dollars.” At $8.5 million, the compound rate of return is about 8%. At 10% it would be in excess of $250 million dollars. I tell the kids that the difference is the cost of fee based asset management, which runs usually at one or two percent per year.
Welcome to our latest issue of ValueWalk’s hedge fund update. Below subscribers can find an excerpt in text and the full issue in PDF format. Please send us your feedback! Featuring investors exit long-short hedge funds, the oil market is now "broken", and Haidar Capital surges 225%. Q2 2022 hedge fund letters, conferences and more
4 – Let your children know that if they do the right things, they will be successful. It is a law that has been explained to us in “The Strangest Secret” by Earl Nightingale.