Can you help me find information that will provide guidelines for parents to teach children the basics of making investments and managing assets?
–T. Crumel, Tallahassee, Florida
There are a number of resources to help parents introduce their children to investing. Start by checking out the article “Making Investing As Easy As Child’s Play” (see September 2002). Then check out the Teenvestor Website (www .teenvestor.com/raising_investors.htm) for information on how parents can raise their kids as investors.
There are also several books that can help. John Bryant, the founder of Operation HOPE in Los Angeles, has cowritten an excellent book with Michael Levin called Banking On Our Future: A Program for Teaching You and Your Kids about Money (Beacon Press, $14). It’s easy to follow — even for parents who don’t know much about investing. The Motley Fool Investment Guide for Teens: Eight Steps to Having More Money Than Your Parents Ever Dreamed Of by Tom Gardner, et al (Simon & Schuster, $14) will help you teach your teenager how to set investment goals, as well as how to make and save money.
Neal S. Godfrey’s Ultimate Kids’ Money Book (Simon & Schuster, $9.99) is an energetically written guide filled with fables, advice, games, bright colors, and cartoon illustrations to keep kids in grades 5—8 interested. And parents who want to teach their children about the stock market can turn to Wow the Dow! The Complete Guide to Teaching Your Kids How to Invest in the Stock Market by Pat Smith and Lynn Roney (Simon & Schuster, $14).