I have been writing articles that have to do with a portfolio we call "The Portfolio For Do It Yourselfers."
This is a portfolio that was started with a generous inheritance that my children received from my sister, when she passed away. You see, my sister did not have any children of her own, but she adored my kids. They felt the same way about her.
With an additional stake from me, I set the kids on a journey of "investment discovery." We sat down together at the kitchen table and created a strategy for investing that inheritance for their futures.
Now, we had always been upfront with our kids about money and finances. We (mom and I) never were much for giving our kids whatever they wanted. Oh, we spoiled them at their birthdays and Christmas, but for random wants, we would discuss how they were going to earn enough money to pay for the "want."
My youngest daughter has always had a passion for Africa. Hey, go figure. Anyway, she met some people that do mission work in Kenya and she came to me with a proposal. She asked me to fund her trip. I wrote her a check for $100 bucks and told her that all she needed now was $3400 more. How was she planning to get that money?
Well, she wrote notes to all the people she knew, telling them that she was planning to go on a mission trip to Kenya for 10 days. She asked each recipient of her letters to pray for her, regarding the trip and keeping her safe. No request for help. Just prayer.
We started getting letters back from those folks. Some said they would pray for her and hoped that she would make a difference. Others stuck $5 or $10 in an envelop and sent it to my daughter. Some sent more. One person sent $500 bucks.
Before you knew it, she had almost all of the money she needed for the trip. But then, she finished her income taxes and came to me to let me know that she had all the money she needed. You see, Uncle Sam was refunding $600 bucks, Colorado (where she worked all summer with the Rocky Mountain Youth Corps) was refunding $111 dollars and the state of Mississippi was refunding $28 bucks.
So, my baby is going to Kenya in June because she identified a problem, developed a solution, put that solution into a game plan, and executed against the game plan.
All of this, a lesson from the nights sitting around the kitchen table, discussing money, finances, and investing.
So here is the complete list of Portfolio For Do It Yourselfers articles. They are listed in chronological order. If you haven't read them, I would invite you to take a look. If you have read them, I'd invite you to revisit them.
In any case, I hope that you and your family members grow together in your investing experience and that you take a leadership roll (as a mentor) in educating your children about money and investing; goal setting; and measuring those goals relative to their expected outcomes.