VIDEO: 14 year old teen, Damon Williams, has a portfolio worth over $50,000 and knows stocks & bonds like most kids know tips & tricks for the latest video games. Damon was only 5 years old when he bought his first share of Nike stock and credits his mom for getting him started. Damon’s mom says she taught him “to be excited about being an “owner” as in owning a piece of the company that made that Happy Meal for him that he was always begging for or owning a piece of Nike for all those gym shoes he has to have”.
Damon teaches other children about the power of investing and could teach many adults a thing or two. This is a wonderful example of parenting done right when it comes to learning about money. This is how it should be. If you haven’t already committed—make a decision in 2011 to make sure your children (…and that doesn’t necessarily have to be your biological child) are being exposed to financial principles that most of us did not get growing up. Being equipped with even a small amount of financial common sense can change the qualities of our children’s lives drastically in the years to come