Teach Your Grandchildren about Investing

Lisa Niday - Sunday, March 10, 2013

As baby boomers most of us are involved in investing in some form, whether we are currently enjoying retirement or are preparing for retirement, our age group probably focuses more on this topic than others. I was reminded recently why we as boomers should be passing this very valuable knowledge to our children and grandkids. My grandson, who is 12,  spent a weekend with me and asked about the stock market. Inquiring "What is this company Dow they talk about every night on the news?"

iPhone screen shot stock screen

Could you or your children explain what all the items mean under the stock symbols above? That's just what my grandson asked.

I thought what a great opportunity to have a meaningful conversation with him about investing. I know many of us, never had many opportunities for this type of learning from our parents, grandparents or even schools. Today I see many schools do offer this in their curriculum which I think is great. However, I still think we have a duty and responsibility to pass along knowledge to the next generation. So I would first encourage you to pass along your knowledge. If you feel you don't have the knowledge then I have listed some resources below where both you and your grandchildren can learn about investing.

Where Can You Go to Learn about Investing?

I personally learned about investing by joining an investment club. This was a great place to learn as you are joined by others, of all ages, who want to learn about investing. I found the diversity of age, sex, cultural backgrounds and investment knowledge aided in the learning process. I spent about 10 years in one club and helped to start a family club to help others in my family learn about investing. The link above will help you find the information you need if you would like to start or join an investment club. If you are wanting to learn about investing, it's never too late and an investment club is a non-threatning environment.

Of course, many community colleges or senior centers offer courses on investing. Check your local areas for resources.

Websites are another great resource. One of the best websites, betterinvesting.org, offers many free resources. The education and resources pages offer free webinars, online resources and educational materials.

Children Specific Investment Resources

At the Alliance for Investor Education website, they offer a great article with 10 specific websites with materials to aid in this process. Maybe you don't feel comfortable teaching your grandchildren, then ensure they are getting the knowledge from someplace. I think we can all agree children need to know what the Dow is and this can be the start of a project of bonding the generations with really helpful information to aid in a lifetime of preparing for the future.


 
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