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Make Your Kids Millionaires
Book

Make Your Kids Millionaires

The Step-by-Step Guide to Lead Children to Financial Freedom

Loral Langemeier and Kyle Boeckman
McGraw-Hill, 2022
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7

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  • Comprehensive
  • Well Structured
  • Concrete Examples

Recommendation

As a parent, it’s your responsibility to teach your children financial literacy, setting them up to have “millionaire mind-sets” later in life, explain finance experts Loral Langemeier and Kyle Boeckman. Schools teach children little about entrepreneurship, money or investment, so the authors urge parents to pick up the slack. Both Boeckman and Langemeier come from farming backgrounds, and understand that as you must slowly tend to your harvest, you must also take consistent, sequential actions to build long-term financial abundance. They offer a workable program for building your enduring legacy and intergenerational wealth.

Summary

Overcome limiting beliefs about money and aspire to achieve financial freedom.

Help your children achieve millionaire status by integrating sound financial strategies and concepts into your daily life and modeling them over the course of their childhood. If you’re not financially literate, take time to educate yourself first, then share what you learn with your children. Don’t let the money stories from your past define your future relationship with money. Create a new narrative of financial freedom and abundance. Let that new money story reprogram your mind and guide you to creating a better financial reality for your family.

Leave the “lifestyle cycle” – a way of living dominated by expenses and liabilities – behind and step into the “wealth cycle,” where you focus on generating income and buying assets. Entering the wealth cycle requires transforming any negative beliefs about money. For example, stop villainizing the pursuit of wealth and, instead, discuss money opportunistically and let your children know they can earn from various sources. Encourage your child to talk about money.

Transform your relationship with money by adopting...

About the Authors

Money expert Loral Langemeier also wrote The Millionaire Maker: Act, Think, and Make Money the Way the Wealthy Do; and Yes! Energy: The Equation to Do Less, Make More. Former Air Force Lieutenant Colonel and personal finance expert Kyle Boeckman achieved financial freedom at age 43.

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