Guess I was lucky, one side of family was more into crime, living in prisons from stealing money and other side was making money as building contractors and medical, cousins and I were mentored at early age of bargaining, getting best price and be ready to walk away, kids were taught how to fix a house, how to remodel one to three times a week for couple hours. I still see one family way and the other family way are the same, in different ages of America, what was once legal is now illegal and we dream up different ways to make money through loopholes. Tax laws change like the seasons, get paid not to raise cattle or grow crops, sounds good to me. People use to have home cooked meals each night and discuss what their kids learned in school, people seldom do this. It is work to have kids, cause they in the end usually become you, and if you don't like who you turned out to be....
Just what every kid needs - more time indoors in front of a screen being feed this notion that anything they want out of life is just a mouse click away. When I was a kid I had a paper route and did services in my neighborhood: car washing, lawn care, dog walking, house sitting, & selling seeds & greeting cards door-to-door. You have to crawl before you run.
Just imagine, years ago if you had your kids throw a couple of hundreds into AMZN stock when it first came out and just let it sit there!
i get your point, and it's true that the kids nowadays spend a lot of time with their gadgets, but philosophically speaking, someone could also say that: (1) One of the duties as parents would be to teach kids about the realities of society, how capital works, and the ways to help them avoid unnecessary sweat and toil -- it's like that interview with Snapchat CEO when he first became a billionaire, I think he said something along the lines of him feeling grateful that he learned how to work 'the system' early on. His parents are both very successful lawyers, so that may have something to do with it. Even beyond the good start they probably helped him out with, it's the nuances of finding ways to succeed in 'the system'... and 'the system' in today's world generates different reward/payouts for different activities. (2) Actually, it's not fundamentally wrong to get what you want by 'clicking a mouse' if (part of) what you want is money (like everyone in the world who needs to eat and pay with cash or credit), and the system allows for it -- like how it's not wrong for: - celebrities to make millions from endorsements - venture capitalists to make billions from signing pieces of paper with the right startup - guys who made millions/billions mining cryptocurrencies Why is it ethically or morally wrong? (3) I don't think trading is just 'clicking a mouse,' makes it 1 dimensional and like saying: - pro athletes just 'use their muscles' - singers just 'pump their vocal cords' - software engineers just 'type a bunch of stuff on the keyboard' - pilots just 'run their hands across a panel of buttons' as participants in an industrialized society, we must become specialized in what we do, and part of that specialization means increased layers of abstraction of the activity, which masks its end value to society. in this case, if no one in the next generation ever traded or had any participation in the financial markets, there would be a lack of liquidity, public would find it hard to make use of capital, companies would never IPO, economy reverts back to pre-stock exchange era. (4) sure, sometimes to achieve a goal requires toil, but if there are multiple ways of achieving the goal, why is it wrong to select the least draining way? it's like uber and the rest of the gig economy, there have been reports that the drivers make <$10/hour, so if toil itself is the be all end all, why all the outrage about how hard they work for so little pay.
lol, maybe a good exercise would be to tell them at the start of 1st grade, "here honey, you get your $10k today along with your new macbook -- just do your best, try and compound at 30% per annum and you'll have your college funds." the question is if/when to let them know the extent of their daddy's available bankroll for them, no martingale strategies allowed, obviously. the kids sometimes know what the upcoming trends are. it's like Nvidia, the real intense gamers first got on that ship.
I agree with you, but it is very risky to attack the most suc(k)cessful trader on ET who is beating the entire universe and who has brilliant kids that do even better. Nobody has ever permission to attack such an icon. ROFLMAO. Destriero will scan 24/7 the internet to find harmful information about you, like he does for all his enemies (and they are very numerous). That's what real professional and successful traders do. LOL. Destriero is not a father with just anger mgmt issues, he just has anger issues all over the place. I tried to teach my children to trade too, at the age of around 18, only 1 succeeded, but he is making real returns, not a mere (lucky shot as it is even not 1 month of proof) 20% a month like Destriero's genius son. Geniality and insanity are very close to each other. A lot of insane people think they are geniuses.
When my daughter was about 6, she said to me, daddy, can I have an allowance? I said, why do you want an allowance? She said all my friends get it. I said, what will you do with your allowance? She said, buy toys, go to movies etc. I asked what her friends get, and she said $5/week. I said, OK, I’ll give you a choice. You can have $5/week and pay for all your toys and movies or, get no allowance and we will pay for everything. Her head tilted to the side, and she said, “I’m good. I do not need allowance.” Sound silly, but I was very proud. We were very lucky. We lived in an affluent village and she always respected money. We taught her about choices and she understood. It is not one lesson but a process. Teaching a child to trade before the value of money, savings and the choices we make in life is way to fast. She is 31 now. Worked through college, even though she did not have to, and has a great career, married with a 2 ½ year old. Never wanted to trade. She just buy ETFs and never looks back. Very proud.
Unfortunately, no. I did spend thousands of dollars at Amazon trying to jump start different careers and hobbies.