Many of you who follow our blog regularly, or know us personally, know that the way we have raised our kids to understand money is a bit unusual. After the financial crash of 2008, we realized that there were way too many people who had grown up without a basic understanding of how money and basic finance work. Our schools may teach a lot of things, but they don’t teach basic money management. At the time of the crash, our kids were 7 & 8 years old. Now early teenagers, they have all been on their own full budgets since then. This means that they have paid for everything they have needed in their lives aside from food and basic necessities. As shocking as this seems to people at first, after we explain the premise to people, they not only understand what we’re doing, but we have been told more than once that we should write a book about teaching kids money management.
Books are daunting. And expensive to write. And they take a lot of time. Instead, we turned our mental notes about what worked and didn’t into a book, Investing in Your 401k Kid. That alone has taken us more time than we’d like to admit. To make sure the book is as useful to you as possible, we’ve made sure to include worksheets and thinking points to make what you read practical to your situation.
We hope you enjoy it, but more importantly, we hope Investing in Your 401k Kid can do its part to educate kids of the future so they don’t make the same mistakes so many of us have made in the past.