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Author: 2gifts Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76395  
Subject: Re: Retirement education? Date: 1/28/2005 11:25 AM
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My daughter is only 4 so it's not sinking in yet :) I've thought of "volunteering” my time to her school or other clubs in the future since I've got a plan to “retire” in 10-12 years.

Has anybody else had experience with this?


My kids already owned stock by that age, and when we went to McDonald's, they'd ask things like how much of it they owned. It is not too early for you to start with such basic concepts, and then expand as she gets older.

Boy Scouts and Girl Scouts both have badges dealing with personal finances. I've done the Girl Scout one, and as I recall, it covered a reasonable amount of material, but we didn't have to do much with it because my daughter already had done most of that already. My son is now working on the Family Member Badge, or whatever they call it, for Boy Scouts, and one of the requirements is a section on personal finances, but again, that will be a piece of cake for him.

I know that they did talk about compound interest in their English class, of all places, this year [my kids are in the 8th grade], and my DD was the only one who knew what it was. I understand she gave a great explanation to her class. Seems her teacher thought that one of her parents must be an accountant, but that's not the case. We are just very interested if finances, and my kids are doing quite well managing their own at this age.

Maybe, though, it is because my kids have been learning and progressing all along that I prefer the parents to be teaching such things because it is such a basic life skill. But there are other ways avaiable as well such as through Scouts or even your local bank. Our credit union has all sorts of programs for children to teach them about basic finances. They also offer little seminars on mortgages and car loans and how to manage your own finances that seem to be worthwhile judging from the material I have seen.

But if you are interested, I think you could easily volunteer your time for financial training for something like Scouts or whatever is popular in your area.
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