You have to start teaching your kids what it means to own their own business at an early age. While I don't have kids myself, I think the earlier the better. They may not understand all the nuances of what they're learning, but never underestimate them. Sometimes you just have to break it down.
I was having a conversation with one of my nieces (5yr old), and she understands that at times I work from home on my "9-5" JOB, but didn't understand the concept of working for myself. She was able to breakdown working for others, but working for yourself didn't make any sense. Here's a recap of our conversation.
Niece: Why are you working for your job now, I thought you didn't work this late?
Me: I'm not working for my job right now, I'm working for myself.
Niece: How do you work for yourself? I thought you worked for other people.
Me: Well, I do both. During the day I work for a company, but I also work for myself. When you see me on this website (www.sharerepurchase.com) this means I'm working for myself.
Niece: But my mom, and Auntie, and Grandma all work for other people. How do you work for yourself?
Me: Think about this. When your Mom, Auntie, Grandma and I go to work, we are working for someone else right?
Niece: Yes, they work for the Boss.
Me: Right. So at our jobs, there's one person who owns the whole company that we all work for. They're called the owner. Does that make sense?
Niece: Yeah, so the owner is like the Big Boss.
Me: Right. So the owner doesn't have a "job", he owns the company. He works for himself.
Niece: Oh, so you're the Big Boss on your website?
Niece: I wanna be a Big Boss too, then I get to tell everyone what to do.
Me: (laughs) ok, well go read your books and stop relying on sight words to read. That's what Big Bosses do.
Niece: ok (runs to find books)
When do you think is the right time to discuss finances with your children? Entrepreneurship? Leave your thoughts below in the comments!!! Subscribe to the Blog!!!!
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Akeem The Dream
I enjoy discussing and learning about technology, stocks, sports, and beating my wife at Dominoes! As I learn, I love to share with family and friends so that we can share our knowledge. Thanks for being apart of the journey!