I am one of the few people in the financial space that talks about the inevitable hurdles and losses when investing and how to overcome them.
Overcoming hurdles and losses is the second topic when I teach because they are inevitable. But if you can prepare for them, the downsides won’t sting as much and you bounce back faster.
This weekend my family celebrated the 1st of two graduations. This week’s was one of my sons graduating high school and headed off to college.
I can proudly say he is ready.
My siblings and I often debated how our kids would be able to navigate life when they are not in the same environments that we grew up in that made us who we are.
I’m talking about the environments that made us resilient. The spaces where we played outside, chased and got chased.
Then I watched my son overcome HIS hurdles.
He did not have the same obstacles as I, but he watched my wife and I keep moving through the hurdles of life. Just as I watched my mother, a single mom, keep moving and providing. We may have eaten generic brands growing up, but we never, ever, went hungry.
My mother got it from her parents who were rural Alabama farmers, who despite being in the Jim Crow South, they accumulated hundreds of acres and put their kids through college and trade schools.
Which brings me back to teaching our kids how to overcome the hurdles of life through our words as well as our actions.
It is important to get our kids involved in investing early so we can be around to help them navigate the obstacles and hurdles. If you’re just learning, it can be an experience you both share and can bond with through the adventure.
-Monk
We spend 12 – 20 years in school learning about every subject, except for money. Then we spend the rest of our lives trying to figure out how to make money or how to grow the money we have.
My approach to financial literacy is to teach it in a way that makes the complexities of finance so simple that your investing actions become instinctive.
To the youth, young adults, and the mothers who raise them,
Financial Literacy: Monk Says… Learn the Game
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