Do you love your children?
Would you do anything to ensure their life-long
Of course, you say!
Then, why aren’t you instructing them in how to
The plain fact is, the overwhelming majority of
parents have a "que sera sera" approach to
the crucial business of training their children
in GUARANTEED wealth building. This is a HUGE
error. Instructing your children in how to get rich
has at least as much or an even greater pay-off than
any immunization, sports mastery, or school
degree. Yet you’re currently not doing anything
That needs to change at once.
1) Start as early as age 5.
Becoming a GUARANTEED millionaire is as
much a function of time as anything else. Thus,
the earlier you get started instilling good wealth-
building habits, the better. Five is an excellent
place to start! Kids already older than five? Don’t
give up on that account! Just because you can’t
start at the ideal time doesn’t mean you
shouldn’t start at all.
2) Make wealth-building a game.
Growing a fortune means developing good
habits. But just because they’re good doesn’t
mean they have to be dull or onerous. Set
aside time each week for the "Let’s make
Bobby rich" game. Make getting rich light,
fun, and a great opportunity to get to know
your child better.
3) Explain the mission
Even 5 year olds understand that living well
has lots of advantages. More of this, more of
that. Your job is to show them how good
financial habits deliver the goodies — for life.
4) Open the pot with a couple of bucks
To start your child’s financial education and
the good wealth-building habits of a lifetime,
start off by putting just $5 in the pot. Make
it clear that this number will be steadily
augmented as the child helps around the
house: 10 cents for making the bed… an
extra quarter for walking the dog. It’s
essential that the child’s desire for "more"
be whetted as soon as possible and that
you incentivize as much as possible.
Never just give an allowance. Earning is
necessary in the real world… and the sooner
your children understand this, the better!
5) Put the money in the bank
As soon as possible, open a bank account in
your child’s name. Call the bank to ascertain
the minimum for this all-important first account.
Then go to the bank.
Make this trip an event. Dress up. Explain you’re
talking your darling to a VERY important place.
Make sure to say these people are helpful and
want to be your friend and help you achieve a
Note: call ahead to see who will be available
to see you. Explain what you’re doing. Bankers
are human, too (really!) and can get into the
spirit of this enterprise. After all, you’re bringing
More: if you have several children, make sure
to bring the others with you. These visits are good
for refining manners and getting live account
6) Switch from bank savings accounts to
no-load mutual funds as soon as you have
the minimum in your account.
No load mutual funds (with automatic dividend
and income reinvestment) are a better way to
grow capital than mere savings accounts. Before
switching, talk to your banker about what he may
have available. ALWAYS take your children
with you when these discussions occur. The
more familiar they are with what’s happening with
their money, the better.
7) Don’t stop your meetings and don’t touch
We have a useful expression here in frugal New
England: "Start as you mean to go on." What
that means is, make time for this all-important
financial education. Don’t stop because you miss
a week, or even a month. That’s what they say
in diet classes… and the same is true here.
Remember, what you’re doing is essential for
your child’s well-being.
One More Thing
In so far as humanly possible, DON’T touch your
child’s capital, even for college. A college education
is NOT the objective. Being rich is. That means
regarding your capital as sacred.
Follow these steps, and you’ll have the satisfaction
of seeing your child rich, a bona fide millionaire.
Guaranteed! Uncork the champagne. You’ve earned
it. Your children are lucky to have such excellent
About The Author
Harvard-educated Dr. Jeffrey Lant is CEO of
Worldprofit, Inc., www.worldprofit.com where
small and home-based businesses learn how to
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Dr. Jeffrey Lant
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