{"id":3008,"date":"2016-07-19T08:00:46","date_gmt":"2016-07-19T12:00:46","guid":{"rendered":"http:\/\/www.incredibleretirement.com\/?p=3008"},"modified":"2016-05-02T16:48:06","modified_gmt":"2016-05-02T20:48:06","slug":"education-tips-educate-your-kids-or-grandkids-about-money","status":"publish","type":"post","link":"https:\/\/brianfricke.com\/education-tips-educate-your-kids-or-grandkids-about-money\/","title":{"rendered":"Tips For How to Educate Your Kids (or Grandkids) About Money \u2013 Part Two"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-3009\" src=\"http:\/\/www.incredibleretirement.com\/wp-content\/uploads\/Untitled-3.png\" alt=\"Untitled\" width=\"900\" height=\"600\" \/><\/p>\n<p>I am frequently asked for my advice about educating kids (or grandkids) about money.<\/p>\n<p>My wife and I developed a set of \u201cmoney rules\u201d for our two boys. I thought I would share a few more of them with you. For us, these \u201cmoney rules\u201d were built around making sure our boys understood the value of money and learning how to manage it.<\/p>\n<h2>Buying Stocks for Kids\/Grandkids<\/h2>\n<p>Every year, well-meaning grandparents ask me how to buy stocks or another investment for their grandchildren. I\u2019m just not a fan of this strategy!<\/p>\n<p>It\u2019s a parent\u2019s (not grandparent\u2019s) responsibility to teach their kids about money and finances. But, I do have some recommendations for other ways you can help your kids or grandkids:<\/p>\n<ul>\n<li><strong>Send the child a check with the payee blank!<\/strong> Give them instructions to make the check payable to a worthy cause of their choosing! You fill in the dollar amount. They decide which charity gets it.<\/li>\n<li><strong>Find out what the children saved from their allowance in long-term savings during the past year and match it!<\/strong> You don\u2019t have to match it 100%. You could match it with 25% or 50% of whatever they save on their own. This shows that good habits can be rewarded.<\/li>\n<\/ul>\n<h2>Involve Your Family in Your Charitable Giving<\/h2>\n<p>If charitable giving is an important part of your life and a legacy you would like carried on by your family, set up your own donor advised fund. Put your children and grandchildren on the grant committee. Every year you can have a family meeting to discuss what causes the family wants to help. I can\u2019t think of a better \u201cinheritance\u201d for you to leave your family.<\/p>\n<p>If you missed it, check out <a href=\"http:\/\/www.incredibleretirement.com\/tips-for-how-to-educate-your-kids-or-grandkids-about-money-part-1\/\">Part One of this post<\/a>. For more financial advice, <a href=\"https:\/\/brianfricke.leadpages.net\/free-book-offer\/\">get your free copy<\/a> of Brian Fricke\u2019s book<em>, Worry Free Retirement<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I am frequently asked for my advice about educating kids (or grandkids) about money. My wife and I developed a set of \u201cmoney rules\u201d for our two boys. I thought I would share a few more of them with you. For us, these \u201cmoney rules\u201d were built around making sure our boys understood the value of money and learning how &#8230; <a href=\"https:\/\/brianfricke.com\/education-tips-educate-your-kids-or-grandkids-about-money\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[363,364],"_links":{"self":[{"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/posts\/3008"}],"collection":[{"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/comments?post=3008"}],"version-history":[{"count":0,"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/posts\/3008\/revisions"}],"wp:attachment":[{"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/media?parent=3008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/categories?post=3008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/tags?post=3008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}