Creating generational wealth and passing on investment and savings knowledge to your children is a big deal. In this episode, I’ll be talking about a strategy that I use to invest for my own children (currently ages 1 and 4). You will hear about why I started investing for them, what I’m investing in, and how I plan on using it as a learning tool as they grow up and learn about money.
Creating a base of financial habits, knowledge, and a solid head start is key to the strategies I’m implementing on behalf of my kids. Listen in to learn about my experiment in creating generational wealth and the strategy I’m implementing to help my kids succeed in the future and beyond.
Listen to the Full Episode:
What You’ll Learn In Today’s Episode:
- Why I started investment accounts for my kids.
- What people typically use to invest and why my personal strategy may differ.
- How to calculate the potential growth rate for the investments.
- Compounding wealth lessons from Warren Buffet.
- The value of learning about investing and saving at a young age.
- How to build generational wealth.
Ideas Worth Sharing:
“I’m choosing companies [to invest in] that we resonate with as a family, but also that my daughter has resonated with herself.” – Jonathan Bednar
“The longer you have this account, the more this hockey stick curve shoots straight up and the compounding gets faster and faster and faster.” – Jonathan Bednar
“What I’m trying to do is create generational wealth.” – Jonathan Bednar
Resources In Today’s Episode:
- Jonathan Bednar: Email | Twitter | LinkedIn
- 529 Plans
- What The Wealth?! by Jonathan Bednar
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