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The Worst Advice We've Ever Heard About Kids


The Worst Advice We've Ever Heard About Kids

This is a featured guest post and does not reflect the views of Little Jumpers. For more about Little Jumpers, please visit their blog here.

The worst advice you can give your kids is 'go to school, get good grades and look for a secure job. The world we live in now (and particularly the future our kids are heading into) is full of down-sizing, is top-heavy with retirees and pensioners that will mostly be relying on social security that our kids will be paying for.

Our kids graduate from a law or medical school or even get at trade and start to earn the dollars. With their disposable incomes, they spend up big, have fun and meet like-minded partners, start their families and the demand for cash increases, so they work harder. More kids come, incomes and taxes go up, the pay cheques are all but gone! The kids are getting older every day as time ticks away they start putting away for their kid's college funds and saving for their retirement.

In a nutshell, they are acting out what mum and dad have taught them, caught in a trap of paying high tax, high interest to the bank for the mortgage and life is controlled largely by the company they are employed by. At around 35 they are now trapped for the rest of their working days.

It is a fact that most people have nothing saved and are relying on there being a pension plan around when they need it. This is a very risky way to organize your future and your finances. We need to be teaching kids the rules of money that the rich play by, not the rules the rest of the population follow. These are the rules that allow us not to pay huge sums of our income to tax and interest, the same rules that allow us to decide if we want to work for someone else or to be in charge of our own income generation.

Do you want to break the cycle? Do you want to know what you have to do differently not to be trapped by this cultural norm? I am going to share the secret with you that most people miss their whole lives.

NEW ADVICE YOUR KIDS NEED FOR A SUCCESSFUL FUTURE

Have you ever noticed there are a lot of accountants, lawyers, stockbrokers or real estate agents who aren't wealthy? They are taught the same things in school we all are and we take advice from these people because we do not know the same things that the very wealthy do. Education is the foundation of success, a different education, not just the scholarly education available to most of us but an education that includes finance and communication.

What happens when a company restructures? People lose their jobs, families suffer and unemployment is perpetuated, but what else happens? The company on the stock exchange usually increases its stock value. So the employees lose and the investors just add to their already lucrative bank accounts.

Time to pick the winning side - here's how: get smart. It's that simple. Give yourself a financial education - read, listen, read, watch and learn every and anyway you can.