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Erika Taught Me
How To Set Your Kids Up Financially
Jul 18, 2023
Alexa von Tobel, founder of LearnVest and mother of three, shares tips on teaching kids about money, investing, and setting them up financially. She emphasizes starting financial education early, having open conversations about finances, and modeling good money habits for children.
54:46
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Quick takeaways
- Instilling work ethic in children through earning money for completed tasks fosters responsibility and appreciation for finances.
- Early investment in Roth IRAs and 529 plans for kids ensures long-term financial growth and security for their future education.
Deep dives
Teaching Kids Financial Literacy
Encouraging children to earn money and teaching them the value of financial independence is highlighted. By making kids understand the concept of working for money, like paying them for chores they complete or tasks they handle, parents instill a sense of responsibility and work ethic in them. This approach helps children appreciate the effort that goes into earning money and sets a foundation for understanding financial concepts.
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Discover
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