Teaching kids how to invest goes beyond dropping pennies into a piggy bank.
Trying to navigate stocks, bonds and other investments can be tough enough for parents, much less their children.
And whether they like it or not, parents appear to bear most of the responsibility for teaching their children about money. Research by the National Endowment for Financial Education shows that parents exert the greatest influence on their children’s financial knowledge — more than work experience and high school financial education combined.
“Kids spend more time dissecting a frog in school than they do learning about money,” says David Bianchi, author of “Blue Chip Kids: What Every Child (and Parent) Should Know About Money, Investing, and the Stock Market.”
You don’t need to be a stock guru to help kids learn how to make their money grow. Here are 5 tips for raising investment-savvy kids.