Ideas

How To Raise a Future Millionaire?

 

Today we celebrate ‘Be a Millionaire Day’! The origins of this day may be unknown, but the day honors the desire to enjoy the freedom and power associated with being financially secure.

We all want to raise our children to be self-sustaining and happy people and give them a chance at a life we didn’t have. We teach them how to save money, how to make the right decision, how to be a decent people etc. but wouldn’t it be nice if we could teach them how to be a future millionaire?

Of course that the most important thing is to raise a happy child, but if it’s possible, why wouldn’t we do the best we can to set up their minds to become future millionaire.

future millionaire

Here are some ideas on how to raise a future millionaire!

Teach Them Dream Big

Future millionaire is a person who think big and trying hard to accomplish things that everyone else says are impossible. Henry Ford wanted to bring cars to the middle-class people and he created one of the biggest businesses of his time. Thomas Edison dreamed of using electricity to light cities. Dream big!

Make Them Aware of Life’s Options

If you look at all the people who are grossing a million or more in salary per year, chances are you will find people who have taken something they love and built an empire. Who knows, your son’s fascination with crafting guitars can turn into a multi-million dollar business. Or your daughter’s love for designing clothes could set her up for life. Take away the mystery of the steps to attain this and they will be well on their way.

Invest In The Proper Education

Conventional education will bring about conventional minds. Let your children explore the world. Expanding the borders will expand their minds; allow ideas to come with new opportunities. It’s one thing to send them to a good school or make them get good grades but it’s another thing to have them really understand it. A trip to Africa to see lions will teach them about wildlife and could very well turn into a conservation project as well as other opportunities that will no doubt net profits. I believe that traveling through the world should be the best education for everybody. It’s only when you see the big picture you will be able to fully understand how everything ties together.

Teach Them To Love Work

There is no doubt you have to love what you do to be successful at it. Teach your kids that working doesn’t have to be a chore. If Bill Gates hated what he did, he wouldn’t have been one of the richest people in the world.
Teach them that if they want something in life they need to work for it.
Teach them the difference between working hard and working smart.

Start Early

Bill Gates began programming at least a few hours a day every day when he was around 12 years old. Warren Buffett began with paper routes and vending machines when he was just big enough to ride a bike. Carlos Slim’s dad started him out running the family’s businesses around 14 years old. By the time he was 30, he was already a multi-millionaire. Zuckerberg has a similar story. Bezos has a similar story. Elon Musk…. you get it.

teach kids to save money

Teach Them The Value of Money

When Elon Musk was in college, he tried to live on $1 a day. All the Rockefeller children had to keep accounts of their daily spending. Many people don’t teach their kids the value of money, and even worse, some instill even negative habits and negative views of money in their kids! The combination of thrift and hard work at an early age is what separates the wealthy from those who have to borrow money.

Become financially literate.

Make sure you know all these things before you try to teach them to become a future millionaire. Before you can teach them how to be rich, your must know how to get rich. Read books about investing and concepts about finance such as profit, asset, liability, equity, coupon, cost of capital, etc. You don’t have to become the next Warren Buffett, but you should be familiar with some basics.

No matter what kind of life we had, we can teach our kids to have a better one. Showing them how to succeed is the one gift we can give them that they will cherish for a lifetime. Becoming a future millionaire isn’t a difficult task if you know what to do. Well, they don’t even need to become a future millionaire, but these steps will help them to succeed (and maybe even become a future millionare!

Previous Post Next Post

You Might Also Like

31 Comments

  • Reply Cheyenne @Rosevine Cottage Girls May 20, 2015 at 6:27 pm

    What a brilliant idea! Love this post!!!

  • Reply Mudpie Fridays May 20, 2015 at 9:30 pm

    Some great ideas, I really like the education point!! Thank you for sharing 🙂 #Kidscorner

  • Reply swathi May 21, 2015 at 1:36 am

    Marina, you always gives best advice, my dad is used to say dream sky you can reach somewhere. Education is real wealth.

    • Reply Marina May 25, 2015 at 9:27 am

      I love the quote from your dad!! He said that perfectly!

  • Reply Everything Mummy May 21, 2015 at 12:45 pm

    Interesting post everyone wanted there child to grow and be successful and happy some great points. Thanks for linking up to #kidscorner

  • Reply krystal @fitfrugalmom.com May 21, 2015 at 5:09 pm

    Loved this Marina! I agree – we should invest more in education! These are all great things to keep in mind.

  • Reply Amy @ Fearless Homemaker May 21, 2015 at 10:17 pm

    These are great tips!

  • Reply Ingrid @ Fabulous and Fun Life May 22, 2015 at 12:39 pm

    Valuable advice!

  • Reply Cheyenne @rosevinecottagegirls.blogspot.com May 22, 2015 at 7:03 pm

    Such great tips! Thank you!!

  • Reply Mila May 23, 2015 at 7:58 pm

    I love your tips! Simple truths from childhood will stay with you forever.
    It’s so worth it to teach kids how to be savvy 🙂
    Hope you will share your tips with our party:
    http://milaslittlethings.com/2015/05/idea-box-thursday-link-party-11.html

    Hugs,
    Mila

  • Reply Katy (What Katy Said) May 24, 2015 at 8:31 pm

    This is a fantastic post! We all want the best for our kids but few people start with these building blocks! Thanks for sharing in #KidsCorner x

  • Reply This Week’s Parenting News, Tips, and Trends | Tuned In Parents May 26, 2015 at 2:04 am

    […] How to Raise a Future Millionaire | Parental Journey […]

  • Reply Elle C. Mayberry May 26, 2015 at 2:43 am

    Great tips! Linked to them in our parenting news, trends, and tips round-up http://tunedinparents.com/2015/05/25/this-weeks-parenting-news-tips-and-trends/! #MommyMeetUpMondays

  • Reply Shandra May 26, 2015 at 3:09 am

    Fabulous! Having raised Two Current successful Entrepreneurs i say “right on!” Visiting you this week from Meet Up Monday. Feel free to pop over and visit back.

  • Reply Jerusha @CitrusSwirl.com May 26, 2015 at 12:44 pm

    I love the idea of teaching the value of money. That’s something we’re struggling with, for sure. Our son gets pretty much everything he wants from Grandma and Grandpa, so that is quite the stumbling block to teaching the value of a dollar.

  • Reply Catherine Holt May 26, 2015 at 1:33 pm

    All important life lessons. We all want what’s best for our kids, but why not teach them to be financially secure too. Awesome ideas.

    Thanks for linking up to Marvelous Monday on Smart Party Planning.

  • Reply Mrs. AOK May 27, 2015 at 3:16 pm

    Great tips! This is something I am definitely working on with my children, but I’m sure I could do much better. All three kids own their own stock, and we make sure that they keep up with it.
    Thanks for sharing with us at Mommy Monday!
    XOXO

  • Reply Kristina & Millie May 27, 2015 at 4:57 pm

    wow so powerful! what great tips here and I wish I had seen them when my kids were young and my parents had seen them when I was young! I will be sharing this forward though with the grands! Thanks for sharing with us at Snickerdoodle!

  • Reply Brandyn May 27, 2015 at 11:39 pm

    Great post! I love these tips, and love that you point out that your child’s interest could really be the thing that gives them a great career later in life. I think it’s important for us as parents to recognize our child’s interests and talents and then help them find ways to gain knowledge and competency in that field. Coupled with a solid understanding of how money works, they can go far!

    Thank you for sharing with us at #MommyMeetupMondays!

  • Reply Gail Akeman May 30, 2015 at 5:07 pm

    Good points to share. Thank you for joining the Small victories linkup. Please join again. Pinned to the group board.

  • Reply Turn It Up Tuesday #89 | Epic Mommy Adventures June 2, 2015 at 2:00 am

    […] (Being a Wordsmith) chose How to Raise a Future Millionaire by Marina at Parental Journey. “I’ve heard the stories about Al Gore and John F. […]

  • Reply Turn It Up Tuesday {#89} • Bliss & Faith June 2, 2015 at 2:01 am

    […] (Being a Wordsmith) chose How to Raise a Future Millionaire by Marina at Parental Journey. “I’ve heard the stories about Al Gore and John F. […]

  • Reply Turn It Up Tuesday #89 | June 2, 2015 at 2:02 am

    […] (Being a Wordsmith) chose How to Raise a Future Millionaire by Marina at Parental Journey. “I’ve heard the stories about Al Gore and John F. […]

  • Reply Turn It Up Tuesday Linky Party #89 June 2, 2015 at 2:14 am

    […] (Being a Wordsmith) chose How to Raise a Future Millionaire by Marina at Parental Journey. “I’ve heard the stories about Al Gore and John F. […]

  • Reply Turn It Up Tuesday - #89 - Baby Doodah! June 2, 2015 at 2:49 am

    […] (Being a Wordsmith) chose How to Raise a Future Millionaire by Marina at Parental Journey. “I’ve heard the stories about Al Gore and John F. […]

  • Reply Here Is Turn It Up Tuesday! | Keystrokes By Kimberly June 2, 2015 at 10:19 am

    […] (Being a Wordsmith) chose How to Raise a Future Millionaire by Marina at Parental Journey. “I’ve heard the stories about Al Gore and John F. […]

  • Reply Turn It Up Tuesday #89 - Afro-Chic Mompreneur June 2, 2015 at 1:32 pm

    […] (Being a Wordsmith) chose How to Raise a Future Millionaire by Marina at Parental Journey. “I’ve heard the stories about Al Gore and John F. […]

  • Reply It's time for Turn It Up Tuesday #89! - My Silly Little Gang June 2, 2015 at 3:37 pm

    […] (Being a Wordsmith) chose How to Raise a Future Millionaire by Marina at Parental Journey. “I’ve heard the stories about Al Gore and John F. […]

  • Reply Turn It Up Tuesday Link Party #89 June 9, 2015 at 3:02 am

    […] (Being a Wordsmith) chose How to Raise a Future Millionaire by Marina at Parental Journey. “I’ve heard the stories about Al Gore and John F. […]

  • Reply stacey June 24, 2015 at 12:22 pm

    I love this! Such great tips, shoot, even for an adult!

  • Reply Turn It Up Tuesday #89 | My New Finances December 5, 2015 at 7:30 pm

    […] (Being a Wordsmith) chose How to Raise a Future Millionaire by Marina at Parental Journey. “I’ve heard the stories about Al Gore and John F. […]

  • Leave a Reply