Over the last 3 days, I have painstakingly taught my 10- year old son some finance principles and concepts. My immediate problem was how to go down to his level and introduce concepts which has has no idea how to apply i.e stock market principles and the like.
Several sittings in front of his computer later, we managed to pick 3 blue chip stock. I introduced the game fondly called 'monitor your stock' to him. I got a lukewarm response at the beginning.
At the end of a 3-day barrage of stock price upswings, I finally saw glitter in his eyes when all 3 choices we made earned x points!! To top of it all, I had him summarize 3 key points he learned from the excercise. I figured he hit the nail on the spot!
If only my dad used the same approach as I did. Well, only time will tell whether the concepts my son learned from me this week bears fruit. Patience is indeed a virtue!
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