Bonus Q&A: Teaching Kids about Money, Investing and Financial Responsibility with Tad Fallows

14 snips

Nov 18, 2022

In this engaging discussion, Tad Fallows, co-founder of Long Angle, shares his insights on teaching kids about money management and investing. He emphasizes the value of practical experiences like brokerage accounts and the importance of allowances in fostering financial responsibility. Tad also breaks down college savings options, highlighting the benefits of 529 plans. Lastly, he shares clever real estate tax strategies and recommends enjoyable activities in Dallas, making financial education both accessible and fun for families.

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ADVICE

Teaching Kids About Money

Teach kids about money by openly discussing financial decisions.
Involve them in investment discussions and give them brokerage accounts.

ADVICE

Financial Discipline for Kids

Use financial consequences as a discipline tool for kids' misbehavior.
This helps teach them responsibility with material things.

ADVICE

College Savings Advice

Consider consistent monthly contributions to a 529 plan for college savings.
The tax benefits and flexibility make it worthwhile.

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