How I attempt to inject this into the consciousness of young teenagers.
Here are a few thoughts —>
Here are a few thoughts —>
1/ Explain this to your kids at the dinner table -->
OK to go to college, OK to get a degree, but building a life around the expectations of recurring future paycheque is NOT OK.
I do this religiously. Our dinner table conv is around biz/idea/innovation/tech, rest politics.
OK to go to college, OK to get a degree, but building a life around the expectations of recurring future paycheque is NOT OK.
I do this religiously. Our dinner table conv is around biz/idea/innovation/tech, rest politics.
2/ Why?
There is an overwhelming chatter for kids to become a tech factory worker. From schools to colleges are teaching them to become one. This is no different from a mining job of the 19th century or an assembly line job of the 20th century.
There is an overwhelming chatter for kids to become a tech factory worker. From schools to colleges are teaching them to become one. This is no different from a mining job of the 19th century or an assembly line job of the 20th century.
3/ With much randomness out there, even if today's kids perform average, the 21st-century blue collar has millions of tech-related vacancies for them to choose.
Can they do better than this is a question I ask myself.
Can they do better than this is a question I ask myself.
4/ While teaching them how to code creates a reasonable probability of a worker bee lifestyle, teaching them commerce & biz ownership shows them the possibility of living an owner bee lifestyle.
A future choice for them to make as they figure out their own steady state.
A future choice for them to make as they figure out their own steady state.
5/ As a parent walk them through the niceties and perils of choosing an owner's life. The highs and lows, the mood swings. From living a happy-salaried life, to a negligible $/month. From a 100% health-ins to none. From a healthy bank balance to less than 5K in a year.
6/ A few months ago — I managed to convince one of my kids to experience the life of an $AMZN Seller. How do you price a product based on COGS, competition, taxes, profit margin and the variability of shipping.
7/ An unexpected outcome of the Amazon exercise was a pricing sheet with modeled profit margin %, list of suppliers of the product, ideas on manufacturing locally & permits.
Economically the experiment was a failure--I still have $500 worth of inventory sitting in my garage!
Economically the experiment was a failure--I still have $500 worth of inventory sitting in my garage!
8/ A few years ago, I introduced them to stockpile — I let them nibble a few $100s here and there. Many loses and a few wins.
Stock picking taught them how emotions and economic gain/loss are intertwined.
Stock picking taught them how emotions and economic gain/loss are intertwined.
9/ Teaching kids that things aren’t going to be perfect is imp. Unless they are in competitive sports they may not learn this. What we fail as a parent when using a narrative, “You worked hard but you still got a C.” Versus, "you could have worked harder to get a B."
10/10 Net, net --> Haven’t found a way to A/B test a kid’s lifestream — My two long bets are still in the play and jury is out where they would land up in life. But my goal is to show them the visuals of possibilities.
