FREE NEWSLETTER

What $1,000 Can Buy

Kyle McIntosh  |  June 11, 2021

FROM AN EARLY AGE, my son showed an interest in business and investing. As a toddler, he’d watch CNBC with me. When my wife and I discussed legal and accounting issues, he’d have his “listening ears” on. (Yes, our dinner table conversations are pretty exciting.)
By the time he was eight years old, he was giving me investing input. He thought Microsoft overpaid when it bought Minecraft maker Mojang for $2.5 billion in 2018.

Read More

Showing the Way

Adam M. Grossman  |  March 28, 2021

WHEN I WAS GROWING up, one family in the neighborhood lived differently from all the others. In their garage was a Rolls-Royce. When each of the sons turned 16, a new BMW showed up in the driveway. Because it was so out of the ordinary, it caught my attention. It caught everyone’s attention.
Looking back, this is what I find interesting: This kind of privileged upbringing looked like a guaranteed recipe for demotivating their children.

Read More

The Case for Kids

Joe Kesler  |  February 5, 2021

I RECENTLY HIT the “pay now” button on what I believe will be the last of 20 years of college tuition bills. That’s right, we have five kids. All went to college. None took out student loans.
Was it worth it—not just paying the tuition bills, but the decision to have children in the first place? It’s a pressing question. A birth dearth is hitting the U.S. and other countries around the world, as many adults opt to go childless.

Read More

Left Penniless

Isaac Cathey  |  December 31, 2020

AS A PARENT, it’s my responsibility to teach my children good financial habits. Core among these are deferring gratification, saving diligently, giving generously and making sensible spending choices. I feel it’s also important to make my children aware of financial pitfalls. Succeeding financially—and in life generally—seems to be as much about avoiding self-destructive habits as it is about cultivating good ones.
My wife and I have been homeschooling our children for the last couple of years.

Read More

Mother Knows Best

Dennis Friedman  |  December 21, 2020

DURING THE BULL RUN of the 1990s, when the S&P 500 soared 417%, I had a brilliant idea: Why not start an investment club? I invited my father and sister to participate. My mother declined. It turned out she was the smart one in the family. We met periodically, usually on a Sunday, to decide which companies to invest in.
I was serious about this endeavor and determined to make it successful. I even gave our new investment club a name: DSD.

Read More

Boredwalk

Richard Quinn  |  December 11, 2020

I AM THE FIRST to admit that I’m no star when it comes to math. I was so enthralled with calculus in college that I took it twice. To make matters worse, math keeps changing. Just ask a 10-year-old to show you how to multiply.
I am not alone. At the high school from which I graduated in 1961, the current math proficiency rate is 2% The national average is 46%. The lowest ranked state is at 22%.

Read More

Game Theory

Adam M. Grossman  |  November 29, 2020

WHEN I WAS A KID, I never liked the game Monopoly. I found it slow and uninteresting. But now, as a parent, I see its value. I’ve tried a lot of things to teach my children about money, but nothing comes close to Monopoly in its ability to convey important personal finance lessons.
Sure, it helps kids practice basics like addition and subtraction—but there’s a lot more to it. If you’ll be spending time with children over the holidays,

Read More

Where We Stand

Jonathan Clements  |  October 17, 2020

THIS YEAR’S PANDEMIC has unleashed financial turmoil for many American families, so data from last year might seem irrelevant. Still, there’s one set of 2019 data that deserves our attention—the Federal Reserve’s latest Survey of Consumer Finances, which was released last month.
Conducted every three years, the survey is perhaps the most in-depth look we get at the state of America’s personal finances. For the 2019 survey, 5,783 families (who may be individuals living alone) were interviewed at length about their income,

Read More

Known and Unknown

Anika Hedstrom  |  July 17, 2020

ON FEB. 12, 2002, Secretary of Defense Donald Rumsfeld took the stage at a press briefing to address escalating tensions between the U.S. and Iraq. A reporter asked him a question regarding evidence of Iraqi weapons of mass destruction.
Rumsfeld famously replied, “There are known knowns; there are things we know we know. We also know there are known unknowns; that is to say, we know there are some things we do not know.

Read More

We Need to Talk

Jonathan Clements  |  May 2, 2020

WE’RE IN THE MIDST of a bull market—in talking. Stuck at home with our families, we’re chatting more with each other, while also frequently touching base with friends and family whom we can’t see in person.
How about devoting some of these conversations to money?
I’m not going to claim that, if we had more frank discussions about money, it would solve all of our financial problems. I’ve seen enough damning data and heard enough horror stories to know that many folks will make huge blunders,

Read More

Lost and Found

Dennis Friedman  |  April 14, 2020

WHEN MY FATHER died in 2012, my mother gave me his wedding ring as a keepsake—but I lost it. I turned my house upside down trying to find it. When my mother was alive, I prayed she wouldn’t ask to see the ring, because I didn’t know what I’d tell her.
I felt terrible that I had lost something that meant so much to my father, and I was upset with myself for not taking better care of it.

Read More

When You’re No. 2

Jiab Wasserman  |  March 31, 2020

WE ALL KNOW financial literacy is important. But it’s especially important if you’re a woman.
According to the Gates Foundation, “No matter where you are born, your life will be harder if you are born a girl.” Today is Equal Pay Day—the day when U.S. women finally earn enough to “catch up” with men’s earnings from the previous year. Women in the U.S. earn 82% of what men do for equivalent work and,

Read More

Garbage Time

John Goodell  |  February 17, 2020

MANY PARENTS assume that what counts are the big events, such as graduations or elaborately planned vacations. But I’ve always found that the best moments in life weren’t necessarily the ones circled on the calendar.
The stock market is a lot like family life. Forget trying to figure out the ideal moment to get in or out of the market. Instead, what really matters is the time spent sitting around in stocks.
Jerry Seinfeld affectionately calls his mundane interactions with his kids “garbage time.” He prefers that label to what most parents aim for—the impossible-to-meet “quality time” standard.

Read More

Helping Them Along

Jonathan Clements  |  January 22, 2020

MOST OF US WANT to help our children financially. But we also want to avoid thwarting their ambition or unintentionally instilling bad money habits. And, no, this isn’t just a problem for the wealthy: All too many kids who grow up in middle-class households end up as financially irresponsible adults.
How can we avoid that fate, while still helping our children financially? Below are five strategies. The first three are cost-free and the other two don’t necessarily require serious sums of money:
1.

Read More

Return on Investment

Richard Connor  |  December 31, 2019

MY WIFE AND I SPENT Thanksgiving on the Outer Banks of North Carolina. For 25 straight years, we’ve gathered there with my wife’s extended family to spend the week of Thanksgiving at the beach.
It started with about 15 of us in 1994, all in a seven-bedroom house. Over the years, the family—and the size of the house—have grown significantly. This year, we had 39 in attendance, representing four generations. For the past five years,

Read More
SHARE