Mother Chooses to Invest in Children’s Future Instead of Purchasing Toys or Clothes

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Financial Literacy: Investing for a Secure Future for Our Kids

Nicole Chan Loeb, a 38-year-old photographer, videographer, and mother-of-two, is taking a unique approach to parenting by prioritizing experiences over physical gifts for her children. Along with her husband, they have decided to invest in their kids’ future instead of buying toys and clothing.

Nicole’s upbringing played a significant role in shaping her views on finances. Her mother taught her about stocks and mutual funds from a young age, instilling in her the importance of financial literacy. This early exposure to investing has inspired Nicole to pass on the same knowledge to her own children.

Both Nicole and her husband come from finance backgrounds but decided to pursue entrepreneurial paths. They believe that teaching their kids about financial responsibility and investing early on will set them up for a secure financial future.

Instead of traditional gifts, Nicole and her husband have maxed out their kids’ custodial Roth IRAs, depositing $7,000 each this year. The money earned by their kids through modeling gigs is considered their earned income, making them eligible for these investments.

The couple’s decision to start investing for their kids was influenced by conversations with friends who wished financial topics were taught earlier in school. They hope that these investments will help their children graduate from college without a massive amount of debt.

Nicole and her husband plan to open investment accounts for their kids in the future and teach them about smart investing and saving for retirement. They believe that experiences and relationships bring true happiness, and they want their children to value these over material possessions.

By focusing on financial literacy and investing for their kids, Nicole and her husband are paving the way for a financially secure and responsible future for their family. Their story serves as an inspiration for other parents looking to teach their children about money management from an early age.

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