Michael Lee-Chin

Dear Mr. Lee- Chin

As I read your article in Entreprise I was so intrigued which led me to your blog. I wondered " What if this can be my son someday" And how can I as a parent prepare him now for the future.

As a working mother on a median income no assets, mortage or savings my 10 year old son who's future definitely concerns me. When our son was 7 years of old I decided to take him into the my local bank and have him fill out his own deposit slip. The branch manager came over to him and says " Now there goes our Next Millionaire" I thought this was very encouraging and aspirational...

I have tried to implement the importance of financial responsibilty, however at this age it seems to be of no importance. He is now 10. I have also asked his Father to take him to the bank so our son could or want to model after him but the problem is this is no importance to my husband either so therefore there's a breakdown of good leadership skills, in my opinion. Please share with me some ideas or suggestions on what I can do to start helping our son understand the importance of saving his money. He says I worry too much about his Future and he is correct, I do.

These are some of the things I've tried along the way. 1) During summer breaks I'll have him do specifics jobs each day and he's paid at the end of the week. This is not an allowance its' called his pay check. 2) I've paid him on specifics chore(s) 3) I have paid on academic achievements which normally leads to him asking for games for his game systems. 4) I have taken him to thirft stores so he could stretch his dollars / allowance 6) I also teach him the importance of giving his 10% to his church.

Please share your thoughts with me as to how a parent can get her childs future on the right track. Sometimes it's just a matter of Knowledge.

Truly Grateful,

Jacqueline Lee

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facebook: jacqueline Lee