Diva Zone ™ Magazine 2019 Holiday Issue - The DIVA Zone Magazine | Page 11

2019 Special Holiday Edition
DZ: And where can you
be reached for courses
and training?
TRM: All the answers you
need on both Generational Wealth
Zone and REIA NYC are on my
websites GenerationalWealthZone.
com and REIANYC.org
DZ: How can we prepare our children
and grandchildren to building wealth
through real estate?
TRM: It’s no secret that I am a
huge advocate for Family Wealth
as evidenced by my “Enjoy Your
Legacy” movement. I trust in pooling
cash and other resources to build
family wealth in an LLC and invest in
real estate and other assets including
start-up businesses. You could
require relatives to make standard
commitments of money or different
resources, for example, having every
grandchild contribute $50 every
month into the LLC.
DZ: There are also many investing
games and online simulations that
do a wonderful job of teaching
investment basics. This can be a
great way for your child to create and
manage their own portfolio without
putting any money at risk, remember
the game of Monopoly?
TRM: Every child can be excited about
investing. The trick is presenting
the information in a manner that
invigorates their interest. The ideal
investment for teaching purposes is a
stock. An individual stock is a much
more interesting investment to a child
than an index fund or a bond. Teach
your child the basics of investing and
enhance their ability to manage their
fi nances later in life.
DZ: What would you say is the age of
accountability for future investors?
How young is too young?
TRM: Teaching your child sooner
will ensure a greater level of fi nancial
sophistication. Every child favors the
practical over the theoretical.
Start with a simple savings account.
Whether your child is 7 or 17, a
savings account is a great fi rst step.
It’s a safe place to store money in the
short-term. However, the return isn’t
great on a savings account. That’s
the fi rst lesson of investing - put your
money to work in the proper place.
That proper place will rarely be a
savings account.
Let your child help with your own
research. An older child can enjoy
helping you analyze and choose
investments and looking at real estate.
A younger child can enjoy helping
you research the manufacturer of his
favorite toy or candy bar.
DZ: How can mothers of young
children / teenagers present investing
as a wise alternative to traditional
Christmas gift exchanging?
TRM: Give the Gift of Financial
Security this Year
It’s no secret that I believe Direct
Investment Plans (DRIPs) are the
small investor’s low risk secret
to building wealth. I’ve been
investing commission-free in
the DRIPs of some of the best
performing U.S. stocks for
years.
You can gift a share of stock
to a loved one in time for
the holidays.
I believe introducing the
children in your life to
investing by gifting a share
of stock is a great way to
teach them about money—and
pass on a truly meaningful legacy.
Why? Kids have a great advantage
when it comes to investing—TIME.
Investing just $50 a month from the
time a child is 8 years old until he
or she reaches age 13 ($3,600 total
over six years)—and never investing
another cent—will produce a portfolio
worth $723,325.59 at age 65.
Long after that toy is abandoned
and forgotten, your gift will still be
giving—accruing market gains and
dividends.
Imagine their faces when you show
them that they own stock in one of
America’s top companies.
For more information or to book
an appointment with Dr. Martin
for personal services, please
connect with her on her websites:
Generational Wealth Zone www.
GenerationalWealthZone.com
and REIA NYC www.REIANYC.
org
11