Was there any moment in your life because you have done something meaningful and made you felt worth living for? Have you ever had the feeling of fulfillment that money cannot bargain? Have you ever felt proud because of what your child has picked up something that you have long been intending to impart and he finally got it?
I felt the most fulfillment in my life this week with all the above because of what my eldest son has finally picked up. I have been long trying to teach all my three kids about financial freedom through saving and investing ever since I picked up this important lesson in my life. But my three kids seemed to just plain obedient without self-initiative.
When they were kids just started collecting Ang Pow (gifts that content money given by elderly in Chinese custom), I taught them save their money in their banks. When I picked up lessons on the importance of investment and financial freedom, I started to teach them to invest. So they agreed with me that they rather transferred their money from their bank accounts into Fundsupermart for investment.
When they were in the process of growing up, I often showed them how much their investments have grown in order to encourage them to save more money. So the term “investment” and its practice have become a usual term and norm in our family language and culture. But all these while, they were passive investors. I was the one doing all these monitoring for them. Partly because Fundsupermart were only accessible to those who have grown 18 years old and beyond.
In Malaysia, kids were not legally allowed to have their own bank accounts below the age of 17. So they can only have their junior bank accounts opened with their parents. It shows how deficient Malaysia, probably all Asian country, is in terms of financial education in general public standard.
It was just dawned on me the other day when my elder son who has already turned 19 but I have forgotten to help him or release him to open his own independent bank account. Technically, he would need that bank account when he goes overseas for his further study. So I proceeded to help him out. Consequently, with that independent bank account opened, he was able to subsequently open his own Fundsupermart investment account. As a result I moved over his previous investment capital to his personal Fundsupermart new account and taught him a few concept about the importance of managing his own investment for the rest of his future.
The idea of achieving financial freedom by building a passive income stream system in the future strikes him a lot. He said for his first time he realized he could relief himself to aim to work for his entire life. Once he builds that passive income system through Fundsupermart one day in his future, he will be free to work for his “hobbies”, instead of working for money. He can his let money work for him.
He was so excited as if he found an entire new life after hearing this financial freedom possibility for himself. That has totally released his stress of working for entire life just to meet daily needs and desires. He said this idea has enlightened him so much, he has changed his perspective entirely for his future.
I was also thrilled to know that I have finally caught his attention and his enthusiasm about investment idea. I just kept on wondering why only now he caught such idea where I have been talking about this ever since I picked up investment six years ago.
I believe part of the reason is that he has personally keyed in his own investment figures and saw that result on the Fundsupermart screen. Secondly, he is now in the transition to go independent when he goes overseas for further study. I have planned for him to study in USA and have his work study plan so that he would learn to appreciate the hard work of earning income for himself. In the way he will appreciate why he needs to work out a plan for financial freedom.
Online Financial Lessons
I am so glad that he can now imagine how he will be able to earn income from US dollars and save to invest for his future, as he told me yesterday after he has gone through the online financial lessons. He is now planning to achieve his financial freedom in 20 years just as how he understood from those lessons being taught.
As a hardworking, smart and determining child, I believe whatever he said will come true. That’s why I was so satisfied this week that all the things I have intended to pass on to him had just got through finally. As the saying goes, it is better to teach someone how to fish rather than constantly giving him fishes. As my eldest son now caught the lesson and will continue to learn how to fish for himself. I believe this will be the greatest reward or inheritance I can ever give to him as my child, teaching him how to invest for himself for the rest of his future.
Interestingly, he said to me the other day, that 20 years is a long time. He just wondered by then whether I would be able to live long enough to see that happen. I told him, I am not worry whether I am around then, as long as he has learned the art of investment, he can achieve it with or without me being around.
That’s my son who has finally grown up even before he leaves home for his further study in this coming August 9th 2018. I really feel proud of him and believe he can achieve financial freedom for himself for his future, if not 20 years, but surely will be there one day in the future, living a life better than mine now!
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