The Lifetime Savings Plan: so simple, a child could do it . . . and probably should . . . and has.
During Spring Break when my son was fifteen years old, he broke his shoulder snowboarding. We had to cut our trip short and fly him to a surgeon. While waiting for the flight, to take his mind off his pain, I asked him to take the Lifetime Savings Plan interview for a spin, just to see if, as a fifteen year old kid, he could make sense of it. With one arm in a sling, in less than a half hour he blasted through it one-handed.
Now (12/05/2014) he's a twenty year-old man with a plan and investments. In retrospect, I realize that, although at the time it was just an experimental diversion from pain, by giving him a written plan at age fifteen, I gave him focus and, quite possibly, prevented all kinds of drama that typically afflicts people in their late teens, and their parents.
The last five years have been drama-free and productive. As a parent, I've been amazed by how focused, ambitious, resourceful, positive, goal-oriented, motivated, and self-directed he has been. Usually I give him, his mother, his community, and God the credit for how he's developing. But lately I've come to realize how although it seemed premature and academic, going through the exercise of writing that first plan probably helped, too.
How about your son or daughter? Is there any reason why they shouldn't enjoy the same benefit? Why wait? Why not click the below links right now?
Lifetime Savings Plan - Thorough
Lifetime Savings Plan - Simple
In thanks for helping her family, twelve-year-old Nellie wrote this acrostic:
Making people understand
All about their money
Kindly sharing plans
Nothing will stop him now.
Go! Make some money!
Enduring computer numbers
Now he's staying up all night
Done! He yells downstairs.
Some people cheer.
Money helps people live.
Even saving it is fun!
Everyone likes to spend it, too.
Today is getting better, every minute.