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May 31, 2012


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Very impressed by your 13 yr old daughter's answers.

Did you ask your son about the mini computer chip in the money? I am curious where that concept came from.

Good interview FMF. It be curious to see where they go a few years from now and how those perspectives change and mature.

Wouldn't mind seeing more posts like this down the road.

Seeing that both my boys are Eagle Scouts and one of the required meri badges for Eagle is personal management it is a rather extensive merit badget involving all aspect of finances, I would assume they would do very well with the answers.

My oldest is doing quite well managing his finances in college.

If your interested here is a link to what is required to earn this Boy Scout Merit Badge and all Eagle scouts are required to take this merit badge.

Apex --

I did not ask. I was just interested in answers without follow-ups or explanations.

Perhaps I'll do an update to this in a few months and be a bit more detailed in my questions and even include follow-ups.

I don't have kids yet. But I love your daughter's answer to the question: name one thing you would buy if you had $100. (Something I probably wouldn't need.) She sounds pretty mature for a 13 year old! I think it's awesome that you're discussing money with your kids. This is the best way to help them avoid financial mistakes when they're adults!

I think your son isn't going to like what his real first job pays. He has high hopes though so hopefully he has the drive to get there as well!

Wow very interesting! I love reading the different responses between the two.

Wow, the younger child has a better grip on reality! I hope she realizes that her three career choices aren't all that promising for a good income right off the bat.

My guess is that the "mini computer" thing is sarcasm.

Also, getting rich designing soccer cleats is not impossible. How does he feel about science? Does he realize that to follow through on this plan, his best bet is medical school, and then specialization in orthopedics or sports medicine?

Great post. Looking forward to the possible follow-up.

08 graduate --

I think his plan is to graduate high school and walk into a high-level job designing cleats. We're working on realism at this point in time. :)


Your kids sound pretty intelligent. You should be proud, you have certainly rubbed off on them.

I guess the definition of 'rich' is certainly creeping up. Funny how your son though $3M is rich but that you need to have about $4M saved up to retire...


Wow, I'm impressed with your 13 year old. I definitely didn't know that much about money when I was that age, and it seems like they're a little better at estimating than the older. This probably is because you have financial talks with them which is a very good idea. It will probably lead to them having a high sense of value than other young adults. Its interesting to ask kids what they think it means to be rich, especially because the idea of a million dollars has changed drastically in a short period of time. On to the age of the billions!

All --

Don't forget to email me your kids' responses. I'd like to publish several of them!

Wow, great responses! I like that your daughter actually doesn't know exactly what she wants to do when she gets a's good to think about it.

I don't have kids, but I will ask one of the kids I know (cousin, youngest sister, etc) about their responses and email them your way.

I love the answer about retirement: "it depends on how long you are planning on living."

Oh to be 16 again and expect to make $300,000 a year!

I asked my 10-year old nephew. He didn't have an answer for money or where it came from. He thought it would take $1m to be rich, $50k to retire, a house costs $360k. He didn't know if his family was rich or what he wanted to do when he grew up. He'd buy video games with $100. People retire at age 70.

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