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Is your Child prepared Financially for the 21st Century Economy?

I recently came upon a You tube video of Mark Victor Hansen he is the co-creator of the widely popular and record american-21st breaking self-published book Chicken Soup for the Soul.  In this video that he was featured in he was promoting his newest book at that time called Rich Kids, the book featured profiles of children who building their own fortunes being entrepreneurs.

Its funny how things manifest from the universe, because I recently started homeschooling my son this school year and on the first day’s lesson; I took a trip to the bank for him to deposit some money that he had been saving around the house.  I thought this was a great teachable moment for him, because at the age of six he’s getting exposure of what it is like to create your personal economy.  It has been a year now since my son has began to grasp the subject of money, asking questions for example where does money  come from,  how do you get more of it etc.  Once he started to ask me those questions I decided to explain to him the word “profits” and its importance.  The reason I decided to emphasized on the word “profits” because I want him to understand at an early age that if you want something in which you will be able to achieve a monetary gain you have to know how to generate a dollar and not wait for someone to give you a dollar.

jaden bank pic I know some people would challenge my parenting skills and say that I am forcing my child to be an entrepreneur without him making the decision on his own.  But I understand the fiscal change that has occurred with our current economy, so what that means is that waiting for someone to hire you and give you a job is thing of the past.  Sure there may be jobs out there, but individuals now have to create their own paycheck.   The landscape has been broaden we no longer have to wait to do business locally or  in the US.  We live in a global economy, whether you want to believe it or not.

The days of work hard for 30 years and collect of pension is a thing of the past, we are no longer in the industrial age we are in the information age.  Take a look at automobile industry in Detroit or the United States Postal Service these industries that once promised a secured future for an employee has now evolved into a new business structure, which will not ensure the job protection it once provided in the past.

In conclusion now do  you understand why I am teaching my son that he should create his own “profits” instead of him working to build someone else’s “profits”.  The reward is much sweeter.

 

 

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