Making money, Saving money & staying the course

Changing the way my kids think about money means I have to change as well. Making money and kids is not written [ my blog ] so I can convert my kids into "money hungry" little capitalist. I started this Blog in hopes of improving the life & future of my kids and sharing this trip with others. I am X yrs old [ meaning old ] and I want more for my kids - it's that simple.

But like any diet, exercise regime or training requirement you have to fight the urge to quit. The first thing you learn about changing anything about yourself is - that there are a million and one nay sayers telling you why you can't or that your wrong.

I mentioned my "Money and Kids" blog on one of these news websites I visit and all hell broke loose. I had total strangers telling me that I knew nothing about money, how it worked, that the rich are against the poor - that I will never get rich. Some one even called me "stupid and Blind", another criticized my grammar [ hey, I know my grammar ain't good - but I'm not in school or asking you to grade my writing skills].

Making Money means Minding your Business

In my last post I quoted Rich dad Poor Dad
"Minding your Business"
It's your life and no one [ not even the government ] is looking out for you when it comes to your money - except you. When you try to change for the better, every crack pot "Nay Sayers" will come out of hiding to knock you down.

Hey, I'm not blind about greedy CEO's, ignorant that the rules are stacked against me or that the government is corrupt. I just want to make a better life for my kids [ I just don't mean materially - but also have freedom to spend time with my kids ].

Goal to Teaching kids about money

One of my first goals in teaching my kids about money is to start them young. Get them thinking now, rather than later when their 20 yrs old and have more than $25,000 dollars of debt in credit cards and college loans [ like most young Americans today ].

If you've never read "The Millionaire Next Door" you should, it's a very good book.

I personally have experience talking with average people who were secretly millionaires, I just wish I had taken thier advice way back then.

When I was 19 years old I started working at Pfizer as a temp [ Pharmaceutical company ]. The first time I ran across a secret "millionaire" was at Pfizer on a packing line. I was a temp so they placed me wherever they needed bodies, so for several weeks I sat next to a cranky, grumpy old woman and placed little bottles of medicine into boxes - 12 to 16 hours a day 5 days a week. Ofcourse after several days she warmed up to me and gave me some tips on how to keep up with her and then one day she decided to share some financial wisdom with me - which I was not asking for.

She told me if I was hired fulltime I should join the company stock option program - that she's been working at the company for 27 years and has 1 year to retire and has $2 million to retire on, not counting her savings or social security.

[ I should have listened ]

I also found several other long time workers at Pfizer that when they cozied up to me said the same exact thing.... all of them were millionaires.....

[ I should have listened ]

Now while the stock today may not be worth much as back then, the simple lesson to understand:
" Start early, allow time to compound and multiply your investment "

So even if I teach my kids about money and all they learn is that one simple rule - at age 40 they could retire and be better off than I was when I was 40. Again, I'm not saying I want them to be greedy stinking rich, no morals kind of people, but I do want them to be smart, be better off than me. Yes, $2 million may no be worth much 20 years from now, but that would be $2 million more they have to work with than I do today...
think about that Nay Sayers....