Do you want to raise money-smart kids? I'd venture to guess a lot of us parents want to, but we're not quite sure where to start.
Doug Nordman focused on simple and practical lessons as a parent and now at 28, his daughter, Carol Pittner, is just a shade away from financial independence. On the podcast, I interview both Doug and Carol to learn about the money-smart kid lessons that were taught, how investing played a role early on, and their new book, Raising Money Savvy Kids for Next Generation Financial Independence.
They also help me answer a listener question from a financial independence enthusiast who wants to help her kids realize FIRE in the future as well. Here's the listener's (Amanda) question:
“I’ve recently found FIRE and my husband and I are pursuing it full-on. We’d love to help our kids (4 and 8) plan for a life of financial independence too. Any parenting money tips to help us get started?”
Listen to what Doug and Carol had to say to Amanda to help her raise money-smart kids.
What are we covering?
Doug, Carol and I review the following:
- Money lessons you can teach a 4-year old and 8-year old
- When a kid is ready for an allowance
- How to get a child interested in investing
For those of you who have been long time listeners, you may remember that we interviewed Doug in 2019 about how he helped his daughter invest with a Roth IRA in her teens. Check out that episode and enjoy this one too!
LISTEN AND SUBSCRIBE ON:
Guest Bio – Doug Nordman
Doug Nordman served for 20 years of active duty in the U.S. Navy’s submarine force and retired in 2002 at the age of 41. He and his spouse, a retired Navy Reservist, reached financial independence in the late 1990s on a high savings rate. They’ve lived in Hawaii for over 30 years, and their daughter Carol was born & raised on Oahu. These days Doug enjoys surfing, slow travel, writing, public speaking, reading, home improvement, personal-finance conferences, and more surfing.
He’s the author of “The Military Guide To Financial Independence And Retirement” and founder of The-Military-Guide.com. He donates all of his writing and speaking revenue to military-friendly charities.
Guest Bio – Carol Pittner
Carol Pittner joined the Navy on an ROTC scholarship. She’s been stationed around the world on a destroyer and an aircraft carrier before moving to the Reserves. She and her active-duty Navy spouse are rapidly approaching financial independence on a high savings rate, and they’ve just started their own family!
Military personal finance is an important family topic… almost as important as surfing.
Doug Nordman & Carol Pittner Resources
- Book: Raising Your Money-Savvy Family for Next Generation Financial Independence
- Carol's Website: ChildFIRE.com
- Doug's Website: The-Military-Guide.com
- Social: Twitter
Sponsor and Recommended Tools
Jenny Life: Get your free life insurance quote today!
BusyKid: Get your kid busy with this awesome chore & reward app.
Personal Capital: Track your net worth, investments and budget for free. Receive a $20 Amazon gift card for signing up.
MKM PODCAST RESOURCES
- Thriving Families Facebook Group: Join our new FREE Facebook Community!
- Young Family Wealth Playbook (FREE): 7-Steps to Solidifying Your Family’s Future Wealth
- One-on-One Coaching: Schedule your FREE 15-minute discovery call with Andy to help you on your Young Family Wealth journey!
CARPE DIEM QUOTE
““Making the decision to have a child — it’s momentous. It is to decide forever to have your heart go walking outside your body.”― Elizabeth Stone
How are you raising money smart kids? What lessons do you feel are most important?
Please let us know in the comments below.
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