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You have a baby! Welcome to the greatest, most sleep-deprived club on the planet. So far, you’re doing everything right.

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One of the most important things you can do as a parent is help to secure your child’s financial future. And, by opening a Wealthie account, you’ve just done that. 

Your work here is done! Take a nap. Wake up when your kid is 25. 

Oh, we kid, we kid. But for real, you’re accomplishing something rare. You’re giving your child a 30-year headstart on the average investor. Three decades of time and compounding will help to quietly grow a meaningful nest egg, ready for your little person when they need it and, (thanks to 20 years of wise words from Wealthie), when they’re ready for it. 

Yessss.

You’ve started early. Now, your job is to keep going. Work to make consistent, manageable payments a habit. $10 a week in a diversified portfolio (like your Wealthie account) at 6% a year, builds almost $60 000 by age 25. Pair that $60K with two decades of Wealthie’s smart financial education, and voila, the world’s in great hands, all thanks to you.  

So, Welcome to Wealthie. Celebrate yourself.

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Here’s the secret it takes most people a lifetime to learn: when it comes to time and money, having one can make up for not having the other. 

Right now, your baby’s got a potent mix of time and a lot of admirers. Put both of these things to work.

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Odds are, your baby’s still the only thing that your family and friends want to talk about. Cash in on this social currency while your kid’s still rolling into fam bbqs like some A-list celeb. In other words, while the people you love are up in your baby’s business, let them actually become your baby’s business.

Yes, some stuffies will stand the test of time, but odds are nothing will come close to the value of an investment made now for the long term. Need a story to illustrate the power of time and compounding? Try this anecdote, with thanks to Morgan Housel, author of The Psychology of Money… 

Whoa.

If Warren Buffett had invested like many people do — started at 30 with $25 000, retired at 60, and still made his 22% annual Berkshire Hathaway returns — today, he’d be holding about $15 million. 

(We’d still take his investment advice.) 

BUT, because he started investing at 10 and kept going, Mr. B’s fortune has rocketed past $100 billion. 

Okay. A few takeaways. One, your offspring is currently 10 years ahead of Warren Buffett. And, while we’re not suggesting your child become a pint-sized tycoon, we are saying that the greatest commodity your baby has right now, (aside from good genes and heavy cuteness), is time. 

Sometimes, TIME = MONEY, but right now, TIME > MONEY. 

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Your child is a toddler. As of today, they can reach everything, and go everywhere. What they can’t reach, they want, immediately. Anything on a shelf is a battleground. The grocery store is your new Waterloo. 

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Life may not be a rehearsal, but life with a two-year-old should be. Grocery shopping with your little person? While you’re on your way, walk through everything you plan to buy, aloud, together. You’ve just turned the grocery store into a scavenger hunt. A small victory. Will this work? Momentarily, perhaps. And while it won’t stifle the occasional yelp for a unicorn cake or dinosaur confetti, it will instil in your child’s subconscious an early understanding of budgeting, financial planning, and patience.  

Get This. 

Studies show that delayed gratification is a lesson that can be learned at two. That lesson pays dividends for life — for you and your child. Have your unicorn cake, and eat it too. 

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Your threenager is watching you, like some kind of baby Netflix. When it comes to money, they’ve picked up a thing or two. They see that money and credit cards get “stuff”. They have neither. Major bummer. 

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Counting and stacking coins to make dollars will give your toddler a felt sense of money and a subtle sense of agency and power. Welcome to Step One on the Path to Plutocracy. Kidding, kidding. 

Money may be virtual, but it’s helpful for your kids to see, touch, count, and understand it, before it disappears for them for life. If it’s already disappeared for you, no problem. You can talk about money in a way your kids will understand. Toys and tradeoffs. 

Use moments of decision making (this toy or that toy? This cereal or that one?) to help your toddler understand the concept of tradeoffs. Your kid may not be able to pronounce “resource allocation” but they get what it means, and what it really means is that that little mind is learning how to budget, and quickly becoming a financial genius. 

Get This. 

Studies show we’re willing to pay up to 100% more for something when we pay with a credit card. Learning to recognize money is an important part of building a relationship with value. Start this process now, to help lock in values around saving and sharing. 

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A Cambridge study says that by age seven, many of a kid’s “money habits” are set for life. Your kid’s only six! As of today, you are ahead of the game. Take a moment to really drink this in.

And we’re back.

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Studies suggest that your child will adopt your money habits. Do not panic. We’re here for you. Take a moment to think, really think, about your money habits. How do you spend? How do you save? How do you think about money? Do you worry about not having enough of it? Do you worry about having too much of it?

Write down your thoughts, and write down your habits. Breathe. Scan what you’ve written. You’ll want to judge those habits. Don’t. Write down your parents’ money habits. Look familiar? 

Ferreal?

We pass money stories down for generations. If yours are serving you, great. If not, try this: write down the habits you’d like your child to have by age 25. How can you model those habits, even hint at them, starting now? 

Keep Going.

Start a conversation with your six-year-old. How do they feel about money? If money were a character or a famous person, who would it be? What can money be used for? Expand the answer beyond “it gets me toys” to a larger conversation about the future, about giving, growing, and, obviously, investing.

Why not into your kid’s Wealthie account and chat about why you and the people in your child’s life are putting money away for them, and actively investing in their future. What does the future look like for your six-year-old? What are they growing their Wealthie account for? Ask them for their thoughts, write down their answers, keep them safe, and repeat this every year.