Love a child?
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Love a child?
Want them to be wealthy?
Today’s blog is written by my guest speaker, Dwight Smith of Stewardship Small Business Academy. Dwight will be presenting his seminar, Raising Millionaires, on April 25, 2019 at the Comfort Suites in Manheim.
All of us know a child that we love and, of course, if you could direct them to wealth, you would; but how? How do you create generational wealth with a child you love? Let me share with you how I am creating generational wealth with my little girl, Kinley Grace.
On August 13, 2015 at 2:11 pm, my daughter, Kinley Grace, was born. A gift directly from God. Being an early riser, I would often feed her during the night, letting her mother sleep. Those middle of the night feedings would provide me the opportunity to hold her, bond with her, sing to her, and pray with her for extended periods of time. I found this time to be very fulfilling and a font of absolute joy.
One of these nights, when Kinley was three months old, I had a combination of feelings. 1) I love this little girl sooooo much; and 2) I need to ensure her financial security. At the time, I was developing a program of entrepreneurial training which eventually became the Stewardship Small Business Academy. Regularly, my mind was focused on writing a curriculum of how to plan, launch, and grow a profitable small business. I knew that starting a business for this tiny little girl would unlock so many opportunities such as:
- Creating some serious daddy-daughter time
- Teaching patience and thinking long term
- Learning hard work brings rewards
- Carpentry skills
- Horticultural knowledge
- A connection to the earth and plants
- Learning proper planning is time well spent
- Talk business with my little angel
- Teach Kinley accounting terminology and practices
- An opportunity to earn income at a very early age
- Initiating compounding interest
- Launching a business together - Flower Girl Farm: A subscription-based fresh flower service for business customers.
In addition to all these wonderful things I could share with my little angel, I could fully ensure her long- term financial security. As a child with her own small business, she can earn income. Some of that income can be invested and left to grow until she eventually retires. I did a few calculations and realized that If I set aside $2,000 a year from the time Kinley is 6 years old until she is 18, $24,000 total, she will be a millionaire when she retires! Probably a multi-millionaire!
You too, can take action and start a small business with a child you love and ensure their financial security. I wrote a book, Raising Millionaires, that will explain every step along the way. You may also want to attend my seminar on Thursday, April 25, 2019 at the Comfort Suites in Manheim.