Teaching financial literacy from birth

One dollar a day, saved and invested over a period of 65 years, at a rate of return that is less than the current historical average of the S & P 500, can grow to over one million dollars. Just follow these simple financial baby steps to create a millionaire.

1. Get Started: We've heard over and over again how important it is to start saving and investing early. If we know that to be true, then why not start at birth? It's easy to turn a newborn into a millionaire because babies have something that parents don't - TIME! Life expectancies are increasing so a baby born today could easily live to be 100. Use those extra years for wealth building. From the day a baby is born just put one dollar a day in a piggy bank, a coffee can, your mattress - anywhere! You can worry about investing it once baby starts sleeping through the night.

2. Decide how to invest your $365 dollars by your baby's first birthday. Keep in mind that historically stocks and stock mutual funds have offered the highest returns over long periods of time. There are stock mutual funds that offer very low initial deposits and the ability to add as little as $25 a month. Narrow your choices to these and seek help if you need it.

3. Make it automatic. Now that you're in the habit of saving a dollar a day and the account it open consider doing automatic deposits from a savings account to the investment account each month. Once it's automatic the hard work is done and you can let the investments do the hard work.

4. Keep a record of your investments and the reasons you established this account for the child. As the child grows this will give you the opportunity to teach her about investing and show how she can be financially secure by continuing to save and invest.

About Brad Dugdale:
Brad Dugdale is a veteran financial consultant with over 25 years experience. He is the senior partner on a team that manages over $300 million in assets for clients throughout the United States. Brad is a financial literacy expert, speaker and author of two books.

His latest book is titled "Munny Journey, a Keepsake Journal for Baby's First Money." The book is modeled after traditional baby journals and records money "firsts", such as baby's first dollar, first savings account and first investment. It is also an educational tool, providing information on saving and investing and how compound interest can create wealth.

Brad's life was changed in his second year of college when realized that small sums of money invested over time can make a family financially secure. He wants to change the way America thinks about money and stop the generational debt spirals that occur when parents aren't able to pass on good financial skills to their kids.

Brad has appeared on numerous television and radio programs and writes columns for websites, newspapers and magazines throughout the country. His first book "Let's Save America, 9 Lessons to Financial Success" was published in 2000 and in 2007 he produced a documentary on the credit card industry called "U.R. Pre-approved". Brad believes that every child has the opportunity to become financially secure and talks to parents and kids about the magic of compound interest whenever he can. He believes that people should strive to be financially independent not to be "rich" but to have choice, opportunity and the ability to create a better world through giving. Brad has two sons and lives and works in Coeur d' Alene, Idaho with his wife Shariae. Brad Dugdale can be reached via e-mail at: brad@munnyjourney.com.

>> For more information about Munny Journey, visit: http://www.munnyjourney.com

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