Feb 14, 2023
It’s never too late or too early to make your kids save money because saving today is an investment in the future. In this week’s episode of the Grow Money Business podcast, Grant talks about the financial lessons you should teach your kids. Throughout the conversation, we cover, the importance of saving, compound interest, tax-advantaged investing, employing your kids in your business, and more.
[05.51] The importance of saving – Starting the conversation, Grant shares why we need our kids to know the importance of saving money for themselves.
[09.35] The power of compound interest – Grant discusses how to make kids save money by showing and guiding them through compound interest.
[18.06] Compound growth – Grant shares the importance of long-term compound growth and how powerful it can be.
[20.03] Tax-advantaged investing - Grant walks us through the right time to introduce tax-advantaged investing to your children.
[25.26] Employing – Grant shares how to employ your kids in your business if you have that kind of opportunity and save cash on their behalf.