10 money lessons, I would like to pass on to my Children (and yours too)

POSTED BY Jagoinvestor ON November 24, 2019 COMMENTS (19)

Jagoinvestor completed 10 yrs recently and it was a wonderful experience for these 10 yrs writing so many articles, working with thousands of investors.

While I was at my Ahmedabad office recently, I and my partner Nandish thought of an idea. We were discussing our kids (I have 1.5 yrs daughter and his son is 7 yrs old) and their future. We were wondering what kind of things we would like to teach our kids so that they can have a great financial life or life in general.

Here are those 10 lessons… Do listen to the whole talk

So we thought about why to keep things private and not share the 10 lessons we would like to pass on to our kids which can help them greatly when they start their own financial life many years in the future from now.

These 10 lessons are not those regular “start early” and “take your health insurance” kind of points. We are talking about some solid lessons which are going to impact your life overall. It’s more of a RICH mindset vs Average Mindset lessons.

Here are the topics we discussed in the video:

1) Future is an Illusion
2) Target Financial Freedom in 10 yrs
3) Speak the language of NETWORTH
4) Focus on your Health
5) Be Coachable
6) Always think in terms of Milestones
7) Look at life in sum-total
8) Slow down to Speed up
9) Be a student of Life
10) Always tell the Truth
11) Don’t Listen to Your Inner Voice (Bonus lesson)

Incase you have any thing to add to these 10 points, we would love to listen about your thoughts in the comments section.

We owe our success and whatever we have achieved to all our readers, our teams and our teachers.

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19 replies on this article “10 money lessons, I would like to pass on to my Children (and yours too)”

  1. Surat Darpan says:

    You did great explaination but in that i didn’t understand about this line “Don’t Listen to Your Inner Voice (Bonus lesson)”. why would i not listen my inner voice?

    1. Jagoinvestor says:

      Hi Surat

      Did you hear the audio? Its already explained there !

  2. Prashant BC says:

    Thanks a lot Manish for your good advise and reply. It’s pleasure receiving reply
    1st point of Financial backup is I have PF and have mutual Fund together of 25lks.
    2nd point of what I am going to do is , I want to try my hand on agriculture. As there is huge demand for cash crops I would like to try my hands and fail and succeed in that field.

    My brother in law I mean wife’s younger brother has completed his MSc in Agriculture and BSc in Horticulture. We both had a discussion and we’re badly in need of some advise . Since he is 28 and I am 38yrs old. Felt like if we never try will always be regretting that we never tried.

    Please help me I have mentioned my mail ID below which I feel you can see. After posting this it will Not be displayed to anyone .

    Thanks again

    1. Jagoinvestor says:

      Ok will get in touch with you over email. However I see that you are in fine shape to dive in and take the risk. Don’t wait for things to get perfect.. And be ready for things to go in wrong direction !

      Manish

  3. Prashant BC says:

    My Name is Prashant BC. Have seen many useful tips and happy for having read them.
    I have a query or need advise .
    I always wanted to start business. But as I do not have any experience didn’t .
    I am Mechanical engineer and working in Bangalore for one of the MNC. It’s 15yrs and I am working . Since 2009 I am always planning to start business of my own. The moment I think of quitting my current job . Family and kids come in mind . How do I make their life financial safe.
    I am 37yrs old married and have 2 kids . 1is 7yrs daughter and son is 3yrs . I always search for blogs and websites which give business ideas . Even I had been to CFTRI to get some information last year . But again worried to take risk and quit my job.
    Please advise me what to do .
    If I am not wrong you both were also working and then decided to start JI

    1. Jagoinvestor says:

      Prashant

      When someone is young, they can take high risk and do things without worrying about future, because there is lots of time to fix thigns up ..

      In a situation like yours, you need to make sure you have a plan B because of responsibilities. The first thing you need to do is create a good enough financial backup to last for atleast 3-4 yrs. Unless you do that you will not be able to dive into risk taking.

      Then you also need to know what are you going to do and if it has potential to make a living for next many decades. You need to try out your hands in that and be ready to fail and succeed.

      Where are you on these two points currently?

      Manish

  4. Promod George says:

    Appreciate your video! I see your point on being coach-able is something you both are also living – your language and concepts resonate with the speakers like Daniel Amen, Zig Zigler! You are able to tell it in a much simpler and contributing way. Good going and hope you reach many more needy people.
    -Promod George

    1. Jagoinvestor says:

      Glad to hear that.. thanks for sharing your honest feedback!

  5. Very helpful! The video illustrations are very clear, thank you.

  6. Jatinder gupta says:

    Can you elaborate 11 the point ?

    1. Anuradha Singh says:

      Hello Mr. Gupta, If you tell us your exact query then we would be able to help you. What you want to know from the 11th point.

      Thank You
      Anuradha

  7. Dhawal Sharma says:

    I too started on my journey of being an IFA 10 years ago and the initial years were full of togetherness with the JI blog. Had lot of fun reading and commenting on various articles. Great memories. Many – many more years to come Jago team, all the best

    1. Anuradha Singh says:

      Thank You, Mr. Sharma, for your appreciation. You can also subscribe to Jagoinvestor YouTube Channel for more valuable lesson on Finances.

      Anuradha

    2. Nandish says:

      Hey Dhaval.

      How are you my friend ? Good to see you , yes many memories

    3. Praveen says:

      hey dhawal my friend how are you?- good to see your comment, yes many memories- nandish

  8. Great video Manish..This was real boosting my inner feelings and I think even if I can implement 1 , I will feel great.

    1. Anuradha Singh says:

      Hello Sengupta Ji, Thank You for your appreciation. You can also subscribe to Jagoinvestor YouTube Channel for more valuable lessons on Finances.

      Anuradha

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