Since before he was Old Enough to get a traditional job, my son was making his own Money. He lAunched Businesses From a Young Age, Such as Reselling Sneakers and Flipping Dirt bikes. He Constantly Talked About Money and Entrepreneurship.
Cre and tourned 14 and COULD FINALLY GET HIRED WHERE LIVE IN SOUTERN CALIFORNIA, he JUMED IN RIGHT AWAY. He took on Multiple Jobs, Umiring Baseball Games, Refereeing Youth Football Flagand Bussing tables at a Local Restaurant.
While it may May Like a Lot for a 14-Yaar-Old, The Commitments Were Less than the 30 or More Hours a Week He Had Previously dedicated to sports. AFTER PLAYING SPORTS SINCE HE WAS 4 YEARS OLD, he tole with want to spend my working and MAKING MONEY INSTTEAD. For Him, Working Wasn’t a Burden, It was an Opportunity.
Now, He’s Taking the Money Has EARNED AND Planning for HIS Future.
Money Has Always Been on His Mind
Growing up in a family where his mom was previously a Wealth Advisor and he had had uncles on bot sides of the family in wealth management, my son haad been overhearing (and socialiacipating in) Conversations ABOUT and Life Ing Ing.
Becuses he was so interestted in Wealth CreationThe Content Fed to Him on His Social Media Feeds was offten About Investing and Money Hacks. He’d Constantly item with Instagram Reels with Claims Like, “here’s How to Make $ 1,000 Flipping Old Properties,” or “Is How Millionaires Save and Invest.”
Most of say skipped from step 1 to step 10, leaving out the hard parts in the middle, but they sparked great conversations between us. I’d Sit Down with Him, Explain What Was True, What Was Missing, and How Those Strategies Actually Workhed in the Real World.
One Reel Made Something CLICK, and He WANTED TO TAKE ACTION
One Day, He Sent me a Reel Explaining How Saving $ 100 a Month as a Teen Could Events Grow to Over A Million Dollars, Thanks to Compound interest. He asced, “is this real?”
Of Told Him, “Yes, Is Absolutely Real.” It ‘sone of the Most Powerful Financial Tools You Can Use, Especilantly When You Start Early. HIS QUICKLY ASKED, “Can You Help Me Set This Up?”
The author Says Her Son Makes by Working Multiple Jobs, Including Refereeing Youth Sports Games. Courtesy of Chris Rosenberg
We consulted a professional
I Suggested We Meet With AFplanner SO He COULD PUT HIS PLAN INTO ACTION. We prepared for the meeting together, discussing his goals and a formed a few quants he wanted to Ask. He scheduled the meeting with a Local Financial Planner of Knew from Our Community Networking Group, and then Walked in and Ran the Thing Himself.
During the Meeting, Sat in the Corner as a Silent Observer. Although I was once licensed and workhed in wealth management, i wanted to own this – and he did.
Appreciated that the advisor treated Him like any other client. She asced About His Incoms, Goals, and tolerance. She explained the time Value of Money, Investment Options, and How Different Savings Levels Wouuld Grow Over Time. She Showed Him Historical Market Performance and Used Conservatives Estimates in A Financial Calculator to Walk Him Through the Actual Numbers. He asced Smart Questions, Listened Closely, and Together They Built a Plan for Him.
He was the decision-maker, and that made all the difference
Soon after the meeting, the advisor sent over the final documents for my son to look over and outlined the next steps. Although of Also Had to Sign I Since Since he is a minor, he made all the decisions.
With Her Guidance and HIS Input, They Structured a Plan Where He’d Invest a Large Portion of His Income Toward Retirement and Future Real Estate Goals. Nor he pointed out, his expenses are extremely low, so he chose to invest more and spend less for now.
That moment Changed something for me. I’ve always tried to provides more for my kids than i haad i wash growing up. But realized that helping say stupine a financial foundation early, one that they ow and drive themselves, was more powerful than anything i say for say. The great gift isn’t what i gIive say, but what i have enabled say to budild for themeslves.
