Daniel Ramsey, founder of MyOutDesk, stresses the importance of financial education and involving children in investment decisions. With a net worth of $100 million, Ramsey saves and invests for his children, teaching them valuable lessons about compound interest and responsible wealth management.

Ramsey advocates for teaching children about financial literacy through Roth IRAs and savings accounts. By starting investment accounts for his kids and contributing the maximum allowed each year, he helps them understand the power of compound interest and how to manage money and investments responsibly.

As his children grow older, Ramsey plans to involve them more in their finances, allowing them to make decisions with parental guidance. He believes in prioritizing togetherness and education, emphasizing strong core values and teaching children how to work hard, be good people, and make sound financial decisions.

Avoiding common mistakes, Ramsey educates his children on the accounts they have, such as Roth IRAs, to ensure they understand wealth management and use money as a tool that aligns with their values. By including and informing his children from an early age, he aims for a smooth transfer of wealth and a legacy of financial responsibility.

Personalized approaches to financial education for his children, such as trips to Disneyland and shareholders’ meetings, allow Ramsey to connect with his kids and have age-appropriate conversations about money. By meeting his children where they are intellectually and experientially, he fosters early financial literacy and interest in investing.

Through continuous learning and education on wealth management, Ramsey aims to empower his children to pursue their passions while being responsible members of society. By prioritizing strong core values, spending time together, and teaching them how to handle money wisely, he believes in preparing his children for a successful financial future.

Read more at Yahoo Finance: I’m a millionaire dad who started investing for my 3 kids when they were born. Here’s my advice for other parents.