Creating An Income Stream Life is complex and we never know what will happen from one day to the next. So I thought a long time ago that instead of saving money for a future inheritance for my kids, I would create them an income stream and educate them on how to keep it flowing.… Continue reading Skipping the Inheritance, Creating Income Streams For My Kids
Tag: rich kids
Raising Money Kids, Helping The Next Generation
I’m trying to raise my kids to be Money Kids. So what exactly do I mean by Money Kids? These are kids that have knowledge of the dangers of credit cards, the monetary value of things, what an interest rate is and how it’s used, and how to saving money to become financially independent some day. I’ve… Continue reading Raising Money Kids, Helping The Next Generation
Giving My Kids A Head Start In Building Wealth
I would like for my son and daughter to have a shot at becoming wealthy when they are older! So what is a middle income earner like me to do? My “Work in Process” Plan Basically to contribute $2,000 per kid until they are 21, then hope they build upon the base that I created… Continue reading Giving My Kids A Head Start In Building Wealth
My Thoughts on Allowances For Less Than Rich Kids
With allowances, it seems like I hear the same broken record erh CD that keeps playing the same song: “3 separate banks, 1 for savings, 1 for spending, and 1 for charity“. It’s always the same message over and over. And of course it’s always an even split between the three (so 33% each). I’m going to… Continue reading My Thoughts on Allowances For Less Than Rich Kids