http://www.kutv.com/content/news/local/story.aspx?content_id=ba9cee97-c073-4574-aeff-596830158ebb This is the link to watch the news story last night. Hope it will be available for a while. The text is below.
HELP YOUR KIDS BE RICH
So you want to be rich? It's no secret; everyone has dreams of expensive cars, yachts and lavish homes. And while most adults want to be rich, a recent survey found that 89% of teens say they want to learn how to make their money grow. But can you really teach your kids to be rich beyond their wildest dreams?
We rounded up a team of experts to help answer the question: How can you teach young people to be rich? Lon Henderson from Soltis Investment Advisors says the answer is simple. "You've got to take the time to go through this process with them that allows them to see something, invest in that effort and receive a return. Then very judiciously take those assets and deploy them where there is a savings account."
The concept of a savings account is not unheard of. Most people will open a savings account at some time before they enter high school or college. But only a small percentage of young people will actually save enough money to be wealthy by the time they turn 25. Experts say parents need to be a financial coach for their kids. "If they can understand early on, you know how to manage their money so they are spending less money then they are earning and really budgeting and following that budget, they are able to become rich."
Ann Throckmorton and her four kids already have a plan in place. They are taking advantage of a program available at Utah's Central Credit Union that gets kids excited about saving money. In fact, her 2 oldest children already have a small fortune growing, and they have no plans to spend it.
To learn more on how to save money, you should visit your local bank. For more information on Utah Central Credit Union, just go to their website www.utahcentral.com.
Remember: If you aren't having fun, you aren't doing it right! This is an attempt to document the comings and goings and everyday life of our family. There are no promises as to how often we will keep up with the blog, but we are promising you will see us as we truly are.
Wednesday, November 26, 2008
Let them eat cake... again
Tuesday, November 25, 2008
The recipient of a great gift
Elijah and I were in a far away part of town that we don't visit very often. He said his throat hurt and that he needed a drink. He was almost in tears. I stopped at a store that I thought would have a drinking fountain. We went in and started exploring the store searching for that thing that would quench his thirst. We found the restroom and a man who was stocking shelves asked if he could help. We inquired about a drinking fountain and he led us to the front of the store where we quickly figured that he was not normally employed at this store. The manager told him that there was not a drinking fountain for the public, but that he could go up to the brake room and get a glass of water for Elijah. Instead the man walked over to a drink cooler, took out a bottle of water, walked to the checkout counter and fumbled to find change in his pocket. Looking and listening I assumed that the circumstances of this man were probably not as good as mine. The way he dressed and the way he searched his pockets made me think that he was probably lacking in income. The way he spoke gave me the impression that he either had a physical or mental challenge in his life. Yet this man wanted to give and sacrifice what little he had for me and my child. When he was counting his coins, I came next to him and told him that he did not need to do this for me. The girl at the cash register and the manager were both confused and somewhat threatening to the man. Apparently it is very much against the rules for an employee to purchase anything unless he is taking a break, so this man was also putting his employment on the line. After he purchased the bottle of water he lovingly gave it Elijah and went back to work. I thanked him and then told the cashier that all we did was ask him if there was a drinking fountain in the store. She then smiled and said, "He is nice", but I don't think that she really even knew the man very well. We walked out the door and I began crying. In fact, I couldn't control myself for about 5 minutes. In the car I said a prayer of thanks for such a wonderful act of kindness and sacrifice, and asked for blessings for this man. I couldn't remember such an act being done for me, except perhaps on my mission. I was very touched. I would like to think that I would do the same for someone else, but thus far, I have probably failed. I need to work on being more Christlike.
Monday, November 24, 2008
Six years old!
Thursday, November 20, 2008
I opened the ads and what did I see?
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