7560e - 3y
Anyone here have preteen or teenage kids? I had an idea and wondering what other think of it?? Basically, I’m thinking of putting £1,000 in a fund and have a weekly “board meeting” on a Sunday after dinner. I’m gonna chair it. Plan is to grow it to £10,000 by end of year 1, £50,000 by end of year 2 and £100,000 by end of year 3. After which I’ll take my £1,000 back and the kids can split the rest. I think this is quite achievable and have a fairly sensible plan for the first 18 months. My only question is… Will my kids show up? Would your kids turn up for this? Also am I crazy?
tanel - 3y
Could i get my teenage sister to apply? 👀💜
Richard Lundgren 🇸🇪 @richard - 3y
Usually when I suggest the kids something they take the opposite position in a split second🤣 Just try, it will probably fail but if not you will be on to something👍
3718e - 3y
Maybe have them download on their tablets WOS and start getting them used to sending and receiving sats back and forth. I’d start small to incentivize. “Hey I’ll send you 1,000 Sats If you do an extra 20 mins of reading today, or an extra chore etc” Once they are used to saving in Sats, then I’d progress towards the fund. Gotta get them used to delayed gratification. A good test or practice for this is to offer 1 candy right now OR 2 candies in 1 hour. Just some random thoughts, my 8 yr old is learning how to save still, so I suppose it really depends on if they are already used to saving/Investing or if they like to spend as soon as they have any money. Fund is a great idea though. I am planning a non-kyc dedicated wallet to stack via goods sold to my customers that I can hand over to him when he’s 18-21
I know what their initial reaction would be to anything like this 💩, but I’m wondering if the prize is big enough for them to turn up?
c4272 - 3y
I'm quite interested that what would be your starting plan? Spefically I am interested of the value conponent that your fund would be generating. Are you supposing that the teenagers do excessive amounts of work on their free time in the sole purpose of chasing the pounds in a family business? This is of course on good lerning opportunity about the value of work and ones time. OR Are you counting on arbitrage/speculation/inflation to work for you. Maybe a bitcoin and sound money experience? Overall 1000£ is not much for a full family financial journey. For comparison. Median income in Finland is a bit over 3400€ for private sector employees. We pay approx 30% taxes from that, which results little bit over 85k real income in three year time. If you had a small starting money to live with the first few years, and a reasonable odds for success - many adult wage earners would keenly join this kind of excersise.
I think I can do it with minimal work. Especially the first 18 months. I’m just going to undertake some legitimate business opportunities. It’s an exercise in entrepreneurship, not child labour. I think we need to turn over the capital 4-5 times per year. We won’t be offering services and we won’t be speculating, we will merely buy some things and sell them. I think we can do this eg around the kitchen table using approx 90 minutes per week.
df57b - 3y
love the idea
The kids actually turned up, they found some of it quite funny but contributed and our fund is setting up this week and will start operating next week. 😂
coool
