You should be their bank/brokerage. When they get money, tell them that they can deposit it with you to earn 5% interest guaranteed, or invest it in something reasonable like VTI. Make it an attractive alternative to spending immediately. When they want to withdraw or check their balance, sit down to calculate this together.
Skip the checks (insecure and archaic), balancing a checkbook (useless), etc. There's a good chance that your kids will never have to write a check. That's already true of Gen Zers.
Skip the checks (insecure and archaic), balancing a checkbook (useless), etc. There's a good chance that your kids will never have to write a check. That's already true of Gen Zers.
Statistics: Posted by drk — Thu Mar 21, 2024 10:14 am — Replies 20 — Views 1088