6 Ways to Teach Your Children About Building Wealth

"Lesson # 5: Do a passive income project... Use examples your kids can understand. For instance, one example of a passive income business could be a gum-ball machine. Let’s say you buy it for $100 and put it into a busy grocery store. Ask your child to research the cost of the gum balls. How many gum balls do you think the machine could sell in a week? Have her calculate a profit and loss projection. Then talk about how much time this passive income business will require."

Read about all the tips here (good for adults too! ;)): BiggerPockets.com

------ [Awesome art by 2nd grader Wayne Thiebaud / Photo by Paula Baker]