Today, kids are flooded with flashy social media influencers pushing get-rich-quick schemes—so how do we convince them that slow, steady investing is actually the best path to wealth? We’ll break it all down, plus share real strategies for saving, investing, and setting up accounts like Roth IRAs and custodial investments to make money work for you.
Topics Discussed:
- How accessing money and financial planning information has changed.
- Wealth-growing strategies that may or may not translate well to different generations.
- The issues with societal pressures and get-rich quick culture.
- Ways to save money and tips for getting ahead on the saving game.
- How to better understand the worth of money.
- The basics on banking and the power of compound interest.
- How different types of investments work.
- The best ways to plan your investments.
- The value of long-term investments and learning to "set-it-and-forget-it."
- Simple ways to start building wealth at a young age.
Resources Mentioned:
- The Richest Kid in Babylon by Clara Drennen and Chris Drennen
- The Little Book of Common Sense Investing by John C. Bogle
- The Coffeehouse Investor by Bill Schultheis
- The Psychology of Money by Morgan Housel
- The 5 Types of Wealth by Sahil Bloom
- ERdocadvisor.com
Tags:
teen finance, finance for kids, saving early, starting finance young, investing young, wealth for kids, financial planning, emergency medicine, ER doc, ER doctor,
