Investing in stocks, bonds, and shares promises a return of greater financial security, a better lifestyle, more luxury… Yet, investing in kids is all the opposite. It is, perhaps, one of the most selfless decisions we can make. They say parental love is the most powerful example of unconditional love, and when it comes to children, investment should involve time as much as it does money; sharing our love of fishing is a perfect way to awaken children to the beauty of nature and to connect in a way that only seems possible in the middle of a serene body of water.
Research has shown that fathers who are heavily involved in the rearing of their children from the earliest years, are more likely to maintain a long-lasting bond. In our race to provide our kids with the things they need, we can be negligent in terms of offering them the most valuable thing we have: our time. It is important to build traditions with children… one way to really spend quality time with them and to get to know them, is by going fishing together regularly. Fishing can teach your child important values such as patience, sacrifice commitment and drive, but the quiet moments when the water is serene – are probably most important of all, for these are the times that you can talk about your experiences, hopes and dreams. These memories are probably what your child will cherish most in the long run, in the same way when you recall your parents, it is the moments together that you most miss and are most grateful for.
It is important that parents start investing in their kids future from the outset. Research shows that if you invest $4,000 on the day your child is born, this amount can grow to almost $1 million by the time your child is 65 (if the money is left intact and achieves a 9% annual return). Setting aside a monthly amount is a good idea considering that in America, the average cost of tuition and fees amounts to around $33,500 at private colleges, $9,650 for state students at public colleges and $25,000 for out-of-state students. Student debt is now the second highest consumer debt category (beaten out only by mortgage debt), with the total amount of student loans amounting to $1.3 trillion in 2017, according to Forbes Magazine. Early savings mean that you can either pay your kids tuition and fees fully or partly, so they can concentrate on their education (undergraduate and postgraduate), thus improving their potential earnings and career potential.
When it comes to offering the best future possible for your children, it is vital to strike the right balance between money and time. Guard yourself against losing a big chunk from your own savings account by setting up a separate fund for your child’s future from as early as possible, and don’t forget to set aside time to truly enjoy your children; the magical moments are often too few and fleeting.