{"id":18414,"date":"2025-06-07T00:02:01","date_gmt":"2025-06-07T00:02:01","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/06\/07\/everyone-talks-about-leaving-a-better-planet-for-our-children-why-dont-we-leave-better-children-for-our-planet\/"},"modified":"2025-06-07T00:02:01","modified_gmt":"2025-06-07T00:02:01","slug":"everyone-talks-about-leaving-a-better-planet-for-our-children-why-dont-we-leave-better-children-for-our-planet","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/06\/07\/everyone-talks-about-leaving-a-better-planet-for-our-children-why-dont-we-leave-better-children-for-our-planet\/","title":{"rendered":"Everyone Talks About Leaving a Better Planet for Our Children: Why Don\u2019t We Leave Better Children for Our Planet?"},"content":{"rendered":"
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Most religions of the world have the fundamental beliefs that are strikingly similar to the Ten Commandments. History has taught humanity that life does not seem to work well without such\u00a0guiding principles. As responsible parents, we should have a parallel foundation of ten life skills that we impart part to our children. Your list will vary from mine, of course, but these are the ten essential precepts which I imparted to my son.<\/p>\n

Learn the basic life skills such as hygiene, cooking, cleaning, etc.
\nDevelop and maintain positive relations with friends and family.
\nKeep a positive \u2018can-do\u2019 attitude exuding confidence and good self-esteem.
\nHave strong ethics and values centered around honesty, morality and empathy for others.
\nDevelop strong communication skills, both verbal and written.
\nDevelop strong problem solving skills, curiosity, education, and rational thinking.
\nSet goals and maintain the motivation to overcome life\u2019s inevitable challenges.
\nAppreciate the spiritual side of life.
\nKeep healthy habits pertaining to diet, exercise, and lifestyle.
\nUnderstand the tenets of financial literacy relating to money, saving, budgeting, and spending.<\/p>\n

Many parenting books have been written on each of these ten topics, but I\u2019d like to highlight the last one \u2013 #10. I propose that financial\u00a0literacy alone has 10 essential skills that we should cultivate in our children. Giving them the gift of a money-wise toolkit along with your time will go along way to ensure their long-term success. It will be the proud legacy you leave and how you\u2019ll be remembered.<\/p>\n

These are my Ten Financial Commandments<\/em> to teach your offspring.<\/p>\n

Start early and encourage your kids to embrace investing as a hobby.<\/strong> It\u2019s intellectually stimulating and they\u2019ll meet great people.
\nInvest consistently and regularly.<\/strong> Don\u2019t try to time the market. As of yet, no one has successfully created that algorithm.
\nWarren Buffet famously described the magic of compounding<\/strong> as \u201cthe eighth wonder of the world.\u201d He likened it to a snowball rolling down a long hill, accumulating more snow as it rolls. Do the math; it\u2019s true.
\nAvoid debt and leverage.<\/strong> Buying a house or college loan aside, credit card debt and onerous fees can ruin you.
\nIgnore fads and hot tips.<\/strong> You\u2019ll be inevitably late, pay too much and experience the bursting of the bubble eventually.
\nDay trading is not investing<\/strong>, and it\u2019s important to understand the difference. If you are an adrenaline addict and absolutely must day trade, then allocate a small percentage of your portfolio to this activity and consider it your \u201cfunny money\u201d that\u2019s expendable. Trading is indeed part of successful investing, but overtrading is not.
\nPay attention to fees.<\/strong> One percent a year may not sound like much, but when you do the calculations and look at a 10-15 year timeframe, you\u2019ll lose out big-time. Fees represent your money that doesn\u2019t get reinvested or compounded for you over the span of those 15 years.
\nBe careful which assets you marry.<\/strong> Some have long-term handcuffs, high fees, unattractive risk-to-reward ratios and low probabilities of making you wealthier. I\u2019ve never forgotten this famous quote from John Bogle, who founded Vanguard: \u201cDon\u2019t look for the needle in the haystack; buy the haystack.\u201d In other words, buying the S&P 500 Index (SPY) is a reasonable strategy.
\nInvesting is a marathon, not a sprint.<\/strong> Young people often think that if they lose big, they\u2019ll have many years to recover. My point is, why lose at all?\u00a0Asset protection should always be a paramount objective throughout one\u2019s life. Start young.
\nBe action-oriented. Start today.<\/strong> Don\u2019t procrastinate. Don\u2019t make excuses. Buy a good investment book. (I humbly suggest the one I wrote with my son.)<\/a> Start a free trial at StockCharts.com. Do some paper trading. You might discover you are the second coming of Warren Buffett!<\/p>\n

In a spirit of full disclosure, it\u2019s important that I acknowledge the other half of the equation in writing about the ten basic life skills and financial commandments instilled in my son. He was also raised by a devoted and well-educated mother who has an MBA and understands the markets as well.<\/p>\n

The bottom line: teach your children about money management. If you don\u2019t, you are intentionally placing them instead into the hands of that merciless professor called \u201cExperience\u201d. The tutorial will be ruthless, and the lessons learned will be costly and late.<\/p>\n

Trade well; trade with discipline!<\/em><\/p>\n

Gatis Roze<\/strong>, MBA, CMT<\/h2>\n

StockMarketMastery.com<\/strong><\/a><\/p>\n

Author,\u00a0\u201cTensile Trading: The 10 Essential Stages of Stock Market Mastery\u201d<\/strong><\/a>\u00a0(Wiley, 2016)<\/span>
\nDeveloper\u00a0of the\u00a0\u201cStock Market Mastery\u201d ChartPack<\/strong><\/a> for StockCharts members<\/span>
\nPresenter of the best-selling\u00a0\u201cTensile Trading\u201d<\/strong><\/a>\u00a0DVD seminar<\/span>
\nPresenter of the\u00a0\u201cHow to Master Your Asset Allocation Profile DVD\u201d<\/strong><\/a>\u00a0seminar<\/span><\/p>\n

P.S. If you would like to be notified when I post a new Traders Journal blog, please submit your preference via the tile in the right column titled\u00a0FOLLOW THIS BLOG.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Most religions of the world have the fundamental beliefs that are strikingly similar to the Ten Commandments. History has taught humanity that life does not seem to work well without such\u00a0guiding principles. As responsible parents, we should have a parallel foundation of ten life skills that we impart part to our children. Your list will […]<\/p>\n","protected":false},"author":0,"featured_media":18415,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-18414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/18414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=18414"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/18414\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/18415"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=18414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=18414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=18414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}