It is an excellent lesson and complimentary to show them why it is vital to save and spend less. Saving more paves the way to investing more and building wealth, particularly if you start in your twenties.
We all wish we did everything well. The truth is that we all make mistakes, significantly when investing. I share my investing blunders with my kids all the time.
Among the more significant mistakes that I often share with our kids is buying a lot of art and antiques at probably peak prices. I made these acquisitions before we had kids.
Choices vary based on whether they are a minor or have reached the age of majority, usually at age 18 in most states. Start investing with your children by encouraging them to select a stock with a familiar name, service, or product.