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James Anthony
July 4, 2007, 10:11 PM
I've been taking a break from posting for awhile to deal with some crazy issues around here, fighting the school system that's dragging my son down, fighting the doctors who have prescribed him mind altering ADHD meds, and fighting his mother in court over custody.

Some crazy stuff, but very soon, I should have a good victory story to post and then be able to get back to normal life.

Anyhow, I just wanted to share something I thought was a very cool parenting moment. And something that made me damn proud.

Awhile back, I posted about teaching my son about money and I posted his little stock portfolio.

I'm really trying to show him how to work for passive income only and show him how to make money earn more money.

As a rule around here, we don't live off of money that we "earned", we live of of money that our money has earned.

He's been wanting a Nintendo Wii for awhile and I let him know that when his stock portfolio gets to $1000, that will mean that his money has actually worked hard enough for him that it could buy it for him.

Well, last week we went out to dinner and celebrated his new "thousandaire" status when his stocks topped 1K (thanks iPhone!)

We went over his options and I told him that he could sell some of it now and he could get the Wii if he wanted to.

Totally his choice and he decided to hold off and let his stock grow awhile longer! He understands what it means to have that much money and he's decided that he'll get the Wii when he can do it and STILL be a "thousandaire"

Too cool!

It took me nearly 40 years to "get" what he totally understands today.

I think that one of my biggest regrets is that when my Dad gave me "The Richest Man In Babylon" when I was 20, that I put it aside and didn't read it until 15 years later.

Today, my 7 year old has had it read to him a couple of times and probably understands the concepts of that book, and the rules of money better than most adults.

He'll be a millionaire by 20 - I can almost guarentee it.


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