Tuesday, July 24, 2012

Kids, Your Legacy, Your Financial Future

So, I love kids. I have always loved kids. I love the fact that they are innocent and do not judge. When they do judge, you can't blame them. Sometimes its hard to let go of child like qualities that we love in ourselves.

Ralph Waldo Emerson said "To laugh often and much; to win the respect of intelligent people and the affection of children; to earn the appreciation of honest critics and endure the betrayal of false friends; to appreciate beauty; to find the best in others; to leave the world a bit better, whether by a healthy child, a garden patch or a redeemed social condition; to know even one life has breathed easier because you have lived. This is to have succeeded."

This quote represents the love shared when one touches a child's life and the legacy you can leave through your children.

Malcolm Gladwell wrote a book called "Outliers: The Story of Success" which discusses the 10,000 hour rule. This rule basically states that in order to be successful in any field, one must spend 10,000 hours toward that success. By the way, Larry Bird used to talk about shooting 500 shots everyday.

This is why reading to your kids each and every night is so important, especially when they are young. If you are like me, 8:00pm hits and you silently whisper to yourself, "Ahhh, my favorite time of the day." I know it sounds mean, but its so true. Raising kids is exhausting. Even so, that little extra effort to read a book to them makes all the difference in the world. People think that the teachers should teach their kids, but the truth is, the battle was long won before they even hit Kindergarten.

This works really well. If you read every night with your kids, it has many benefits, including strengthening your bond with them and helping them sleep better. Eventually you will introduce them to chapter books. If you work it right, by the time the kids can tell time on the clock, you can give them this rule. You can stay up an extra half hour if you get ready for bed quickly and are reading quietly in bed. In addition, after the half hour is up, you have to get to bed by yourself, without us reminding you. This teaches them responsibility. If they are tired, let them go to sleep. If they are not, they can read. Win win. Gives you your peaceful night, etc, etc. Even though you want them to read, don't take away their consequences. My book review for the day, is a great parenting book.

My mother received her Masters in Child Psychology from UCLA and truly believed in the academic capability of young children. I keep reminding her that she needs to write a book one day so others can learn how she did it.

Here are some things I remember as a child:

1. Being forced to sit at the kitchen table for hours until the work was done. There was not a break for dinner, no we finished what needed to get done. This taught us that as long as we worked hard enough and were determined enough, we could handle anything put in front of us.

2. Having a savings account with about one thousand dollars in it, that came with a little accounting book that we kept. We could run in, look at the book and watch the interest added. Imagine growing up with a bank account for 18 years, having money in the account and never touching it. Hmm. Maybe that would help you not touch the money in your account as an adult.

The thing is, one of your best investments is your children.

I once watched a documentary of Mike Tyson. Did you know that he wanted to fight because he was a fat kid that got beat down worse than any kid you've probably seen get beaten. Anyways, a man took him in, when his mother died at age 16 and started to train him, letting Mike Tyson live with him. Throughout training, he would tell Mike Tyson, "You are a champion, you are a champion." He would continue to just tell him positive things, building up his self esteem. You know what happened several years later. Mike Tyson got a record knockout in the Olympics of 6 seconds.

Of course the story continues and Tyson squandered his 300 million fortune, and should have hired me to help him with his finances, but thats a whole other blog, titled "learning to live within your means."

Recently, I heard some great advice to constantly tell your kids:

1. No matter what you do God will always love you.

2. No matter what you do, your mother and I will always love, and nothing is going to change that.

3. I don't know which path you are going to choose in life, but no matter which path you choose, I know you will be successful.

4. Throughout life, you are going to have struggles. These struggles will help you grow. During each struggle, I want you to find something positive in it.

If you are struggling financially, look at your interaction with your children. Are you raising them to struggle in life or giving them the confidence they need to succeed. How do you talk to them? Do they know you love them? They can do it and you need to tell them. Good luck.

Support My Mission

1. You can support my mission by visiting http://www.izuservices.com and donating. A dollar lets me know you support my mission or like my posts. Thank you for those who have already donated.

2. Donate to SAGE via http://sagescholars.berkeley.edu/. The UC Berkeley SAGE (Student Achievement Guided by Experience) is a self-funded experiential leadership program that provides education, professional development, mentoring and internships to UC Berkeley students who come from poverty and low income backgrounds. I serve on the Leadership Council for SAGE and want to help raise money for their cause.

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