Replying to Avatar ⚡️🌱🌙

Anyone here have preteen or teenage kids? I had an idea and wondering what other think of it??

Basically, I’m thinking of putting £1,000 in a fund and have a weekly “board meeting” on a Sunday after dinner. I’m gonna chair it.

Plan is to grow it to £10,000 by end of year 1, £50,000 by end of year 2 and £100,000 by end of year 3. After which I’ll take my £1,000 back and the kids can split the rest.

I think this is quite achievable and have a fairly sensible plan for the first 18 months.

My only question is… Will my kids show up?

Would your kids turn up for this?

Also am I crazy?
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Juspace 2y ago

I'm quite interested that what would be your starting plan?

Spefically I am interested of the value conponent that your fund would be generating. Are you supposing that the teenagers do excessive amounts of work on their free time in the sole purpose of chasing the pounds in a family business? This is of course on good lerning opportunity about the value of work and ones time.

OR

Are you counting on arbitrage/speculation/inflation to work for you. Maybe a bitcoin and sound money experience? Overall 1000£ is not much for a full family financial journey.

For comparison. Median income in Finland is a bit over 3400€ for private sector employees. We pay approx 30% taxes from that, which results little bit over 85k real income in three year time. If you had a small starting money to live with the first few years, and a reasonable odds for success - many adult wage earners would keenly join this kind of excersise.

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⚡️🌱🌙 2y ago

I think I can do it with minimal work. Especially the first 18 months.

I’m just going to undertake some legitimate business opportunities. It’s an exercise in entrepreneurship, not child labour.

I think we need to turn over the capital 4-5 times per year. We won’t be offering services and we won’t be speculating, we will merely buy some things and sell them.

I think we can do this eg around the kitchen table using approx 90 minutes per week.