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894: Friday Q&A: Houses & Down Payments, New Child, Famine, Farming, Etc.

Radical Personal Finance

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Mental Tricks for Motivating Your Child to Make More Money

People who have a specific goal of something they want to do for their child will often work extra in order to accomplish it. That extra work can add to your family wealth because it's extra work. If you've got the money sitting in a bank account and it's, and you could put it into the American system into a 529 account - this is going to be available for tuition over 18 years. You're really building, setting aside money early that's available for your children. Any amount of money that gets set aside now grows faster than if it was done 10 years ago. And so there's no one thing that you need to do or that has a magic, magic kind of solution

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