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My 11 year old recently said he wanted to start making money. I asked why. He responded that he needs to start saving so he can get a car, buy a house and retire early. This weekend we went and opened his first savings and checking account. I think he's finally big enough to begin mowing the yard. Half of what he earns will go into each account. He has his own debit card(can't overdraft) and a CD savings account. This way he had spending money and savings. It teaches him responsibility. win/win

I began mowing yards at his age as well. I think it will do him good.

My 11 year old recently said he wanted to start making money. I asked why. He responded that he needs to start saving so he can get a car, buy a house and retire early. This weekend we went and opened his first savings and checking account. I think he's finally big enough to begin mowing the yard. Half of what he earns will go into each account. He has his own debit card(can't overdraft) and a CD savings account. This way he had spending money and savings. It teaches him responsibility. win/win I began mowing yards at his age as well. I think it will do him good.

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[–] • 4 pts

One word: inflation. You need to teach him that central banking is modern jewish coin clipping and he shouldn't just leave money in a bank account. It needs to be invested in something that pays interest, real estate, or other assets.

[–] • 3 pts

> You need to teach him that central banking is modern jewish coin clipping and he shouldn't just leave money in a bank account.

Absolutely! He gets gifted 1oz silver coins ever birthday and holiday. As far as the bank account goes, it's only until he has enough saved up to do something with. At that point I'll help him turn it into actual tangible assets. I'm the meantime he will learn value in his effort and how to save for what he wants.

[–] • 1 pt

Great point. Gotta hedge and find real assets, precious metals, and dare I say a little bitcoin just so he can understand what's coming.

[–] • 0 pt

> a little bitcoin just so he can understand what's coming.

Well damnit, I didn't think of getting him set up with Bitcoin. Will need to do that as well. Thank you for the reminder.