Vatican launches $110 smart Rosary bracelet that tracks your prayers

The Vatican has launched a $110 “eRosary” in a bid to encourage tech-savvy Catholics to pray. Launched Tuesday, the wearable smart device links to an app designed to teach users how to pray with Rosary beads. The eRosary, available on Amazon as well as the Vatican’s own website, can be worn as a bracelet and is activated by making the sign of the cross. The rosaries are crafted together using 10 beads and a metal cross that detects movement and stores data.


The Vatican has launched a $110 “eRosary” in a bid to encourage tech-savvy Catholics to pray.
Launched Tuesday, the wearable smart device links to an app designed to teach users how to pray with Rosary beads.
The eRosary, available on Amazon as well as the Vatican’s own website, can be worn as a bracelet and is activated by making the sign of the cross.
The rosaries are crafted together using 10 beads and a metal cross that detects movement and stores data.
Vatican launches $110 smart Rosary bracelet that tracks your prayers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: chloe taylor
Keywords: news, cnbc, companies, wearable, 110, smart, bracelet, teach, vaticans, rosary, website, vatican, erosary, using, prayers, worn, tracks, users, techsavvy, launches


Vatican launches $110 smart Rosary bracelet that tracks your prayers

The Vatican has launched a $110 “eRosary” in a bid to encourage tech-savvy Catholics to pray.

Launched Tuesday, the wearable smart device links to an app designed to teach users how to pray with Rosary beads.

The eRosary, available on Amazon as well as the Vatican’s own website, can be worn as a bracelet and is activated by making the sign of the cross.

The rosaries are crafted together using 10 beads and a metal cross that detects movement and stores data.


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: chloe taylor
Keywords: news, cnbc, companies, wearable, 110, smart, bracelet, teach, vaticans, rosary, website, vatican, erosary, using, prayers, worn, tracks, users, techsavvy, launches


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

25-year-old tech founder is helping teach everyday Americans how to invest

Learning to think like an investor at a young age, he says, helped him become a tech entrepreneur. Gage, 25, is one of the founders of Rapunzl Investments, a mobile app that lets users simulate stock trading in real time. Gage believes that his platform can help young people who lack formal financial education make better decisions and start investing for their future. Starting in first grade, students learn core financial tenets like investing and entrepreneurship and get hands-on experience in


Learning to think like an investor at a young age, he says, helped him become a tech entrepreneur. Gage, 25, is one of the founders of Rapunzl Investments, a mobile app that lets users simulate stock trading in real time. Gage believes that his platform can help young people who lack formal financial education make better decisions and start investing for their future. Starting in first grade, students learn core financial tenets like investing and entrepreneurship and get hands-on experience in
25-year-old tech founder is helping teach everyday Americans how to invest Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: sam becker, anna-louise jackson
Keywords: news, cnbc, companies, invest, investing, everyday, rapunzl, gage, founder, stock, app, helping, tech, money, users, school, 25yearold, ariel, teach, americans, financial


25-year-old tech founder is helping teach everyday Americans how to invest

Like a lot of kids, Myles Gage was into sneakers when he was growing up. But his mom suggested an unusual rule: For every pair of Nikes that Gage owned, he should own a share of Nike stock. Learning to think like an investor at a young age, he says, helped him become a tech entrepreneur. Gage, 25, is one of the founders of Rapunzl Investments, a mobile app that lets users simulate stock trading in real time. The platform makes a game out of the markets: Users get $10,000 fictitious dollars to buy and sell stocks, which helps them learn how the markets work and start to experience the excitement and potential benefit of investing. Gage believes that his platform can help young people who lack formal financial education make better decisions and start investing for their future.

Learning early to be ‘financially literate’

Gage says his parents made a lot of financial mistakes and they wanted to make sure their kids didn’t follow in their footsteps: “They wanted us to be financially literate and in a position to make better decisions.” That’s partly why Gage’s mother, who worked for the Chicago Parks District, found a way to get him and his brother, Mario, into Ariel Community Academy, a specialized public school for students K-8 with a focus on financial education. Starting in first grade, students learn core financial tenets like investing and entrepreneurship and get hands-on experience investing in stocks. Attending Ariel made a huge difference in Gage’s life: “The only reason I know about the stock market is because of Ariel Community Academy,” he says.

The only reason I know about the stock market is because of Ariel Community Academy. Myles Gage CFO, Rapunzl Investments

That knowledge paid off: It helped Gage win a full-ride scholarship to the University of Chicago Laboratory School, a prestigious private high school. “I wrote an essay about how I planned to finance my college tuition. And the main point of that was that I was going to liquidate my stock portfolio,” he says. “I don’t think the judges were expecting a 14-year-old to be talking about liquidating a portfolio, let alone one from the south side of Chicago.”

The origins of Rapunzl

As a high school freshman in 2008, Gage immediately bonded with another student, Brian Curcio. While discussing the stock market and the budding financial crisis, the two came up with the idea of a stock market game, using fictional money, to teach people how the markets work. Over the next few years, the economy recovered. Some investors, who had money to buy stocks when the markets bottomed out, started to see strong returns. Average Americans, however, were often missing out. Gage didn’t think that profits should belong only to a select few, hidden away at the top of a tower like the character of Rapunzel in the 1812 Brothers Grimm fairy tale. Rapunzl the app, Gage and Curcio decided, would make investing accessible. It would give anybody the chance to learn, to figure out how the stock markets work. Then, when users were comfortable, they could actually start investing.

How the app got funded

Through their college years, the two met frequently to refine the concept for Rapunzl. They settled on an idea that would allow users to simulate a stock portfolio without risking real money. But to make their idea come to life, real money is exactly what the two young entrepreneurs needed. So, after graduating in 2016, they organized their ideas and started looking around for seed funding.

Myles Gage with Rapunzl cofounder Brian Curcio. Courtesy Rapunzl Investments LLC

“We put a mini-pitch deck together and shopped it around to our friends and family, and were able to muster up funds to develop a prototype,” Gage says. They hired a Canadian developer who created an early version of the app and made it available for download in April 2017. Around that time, Rapunzl also did another round of fundraising, which netted the company enough money to continue perfecting the platform. Several months later, the founders brought in a third partner, Chris Thomas, as the company’s CTO.

‘Our country needs more innovative approaches like Rapunzl’

To attract users and take aim at their mission of creating a new generation of confident, financially literate investors, Gage and the team headed back to school — literally. Rapunzl partnered with the Federal Reserve Bank of Chicago and started sponsoring conferences, plus essay and investing competitions at schools around the Chicago area. The team also met with John Rogers, the chairman and CEO of Ariel Investments — which also funds and sponsors Ariel Community Academy — who agreed to sponsor the competitions and provide prize money. In 2018, Rapunzl was involved in competitions in more than 70 Chicago-area schools, comprising more than 2,000 students.

Our country needs more innovative approaches like Rapunzl that aim to tackle financial illiteracy and close the achievement gap. Arne Duncan Former U.S. Secretary of Education

Rapunzl is building on its success in Chicago schools by expanding. Last year, it sponsored competitions in Los Angeles, Boston, and New York, with plans for more cities next year, and colleges, too. It has even managed to catch the attention of former U.S. Secretary of Education Arne Duncan. “Our country needs more innovative approaches like Rapunzl that aim to tackle financial illiteracy and close the achievement gap,” Duncan said, following an announcement about Rapunzl partnering with investing firm Wedbush. Duncan, who doesn’t have any current connection to the app, did play a role in developing the curriculum at Ariel Community Academy.

The app and its founders hope to make a difference

So far, the Rapunzl team has focused their efforts on generating interest in the platform and getting young users hooked on trading. The app doesn’t currently drive revenue, though, and Gage is hopeful that will change. He says at some point in 2020, the platform will be monetized through affiliate marketing and premium subscriptions.

Courtesy Rapunzl Investments LLC


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: sam becker, anna-louise jackson
Keywords: news, cnbc, companies, invest, investing, everyday, rapunzl, gage, founder, stock, app, helping, tech, money, users, school, 25yearold, ariel, teach, americans, financial


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Your kid makes $1,500 a year in allowance. Here’s how to turn that into a money lesson

But most of them won’t be able to make a big buy with allowance money. “We as parents have to teach them what’s in it for them [to save],” Almonte said “Why shouldn’t they buy that toy today? Three out of four adults say the most important purpose of an allowance is to teach children the value of money and financial responsibility. Show them where the money goesOpen a bank account with your child so they see where their money ends up. “It’s really hard for someone to be like ‘here’s $10 for your


But most of them won’t be able to make a big buy with allowance money. “We as parents have to teach them what’s in it for them [to save],” Almonte said “Why shouldn’t they buy that toy today? Three out of four adults say the most important purpose of an allowance is to teach children the value of money and financial responsibility. Show them where the money goesOpen a bank account with your child so they see where their money ends up. “It’s really hard for someone to be like ‘here’s $10 for your
Your kid makes $1,500 a year in allowance. Here’s how to turn that into a money lesson Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: mallika mitra, jill cornfield
Keywords: news, cnbc, companies, makes, almonte, savings, kids, parents, lesson, heres, bank, allowance, teach, 1500, money, turn, kid, financial, save


Your kid makes $1,500 a year in allowance. Here's how to turn that into a money lesson

Jose Luis Pelaez Inc | DigitalVision | Getty Images

Children are pocketing an average of $30 a week in allowance — enough to rack up around $1,500 in a year. But most of them won’t be able to make a big buy with allowance money. Only 3% of parents say their kids primarily save their cash, according to a new telephone survey from the American Institute of CPAs. The organization polled 1,002 adults from Aug. 22 to Aug. 28. Of these, 273 identified as a parent or guardian of at least one child aged 25 or younger who is living at home. “Once you put money in someone’s hands, it feels like it’s just burning a hole there and they have to do something about it,” said David Almonte, CPA and member of the American Institute of CPAs’ financial literacy commission.

Close to half of the parents said their children’s allowances go toward outings with friends, while 37% said their kids spend the money on digital devices or downloads. A third of parents said their kids use the cash to buy toys. “We as parents have to teach them what’s in it for them [to save],” Almonte said “Why shouldn’t they buy that toy today? Whats the benefit of waiting?” Three out of four adults say the most important purpose of an allowance is to teach children the value of money and financial responsibility. Here are some tips on how to do that.

Make them earn it

SDI Productions | E+ | Getty Images

Nothing is free — not even that weekly allowance. “If you just give someone money, you help them resolve a short-term need,” Almonte said. “If you teach someone to earn money, you set them up for financial success for the rest of their life.” One way to do this is through chores. This teaches children the real world lesson that, “if you don’t show up and put in the effort, you don’t get a paycheck,” Almonte said. Another option is to reward them for saving by matching dollars for dollars — this allows them to turn $20 of savings, for example, into $40.

Show them where the money goes

Open a bank account with your child so they see where their money ends up. Bring your kids to the bank and explain to them what happens to their money when they keep it in a savings account instead of spending it. “It’s really hard for someone to be like ‘here’s $10 for your allowance,’ then take it back to put it into savings,” Almonte said. “As a kid, you’re like ‘where did my money go?”

If you teach someone to earn money, you set them up for financial success for the rest of their life. David Almonte CPA and member of the American Institute of CPAs’ financial literacy commission

Because a lot of banking is now done digitally, this can also be done online. Cristina Guglielmetti, a certified financial planner and founder of Future Perfect Planning in New York, does this with her 9-year-old son. “I log into the bank and show him ‘this is where our interest is, this is how much we had last month and this is how much we have this month,'” Guglielmetti said. Seeing and understanding bank statements can help children track the increase in their savings and the decrease in their spending. Another way to show them where their money goes is to tell them that for every dollar they save, you’ll donate 10% to an organization of their choice. You and your child can hand-deliver the donation, Almonte said.

Talk about money early and often

kate_sept2004 | E+ | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-10-01  Authors: mallika mitra, jill cornfield
Keywords: news, cnbc, companies, makes, almonte, savings, kids, parents, lesson, heres, bank, allowance, teach, 1500, money, turn, kid, financial, save


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Millionaire in training: how to teach your kid to think like an entrepreneur

“It makes you value money more,” said Henske, who developed and runs his firm’s smart-money kids program. Here are other things you can do to encourage your kid become an self-starter — and help them get smart about money in the process. So, if your kid has a great idea, be curious about it and help nurture it. BrainstormDoes your kid want to find a way to start making money? Research the marketIf you think your kid’s idea has the potential to turn into a business, first research the market to s


“It makes you value money more,” said Henske, who developed and runs his firm’s smart-money kids program. Here are other things you can do to encourage your kid become an self-starter — and help them get smart about money in the process. So, if your kid has a great idea, be curious about it and help nurture it. BrainstormDoes your kid want to find a way to start making money? Research the marketIf you think your kid’s idea has the potential to turn into a business, first research the market to s
Millionaire in training: how to teach your kid to think like an entrepreneur Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: michelle fox, cnbc staff
Keywords: news, cnbc, companies, kids, millionaire, entrepreneur, think, idea, teach, dont, henske, money, help, start, training, business, kid


Millionaire in training: how to teach your kid to think like an entrepreneur

Hero Images | Hero Images | Getty Images

Kids can come up with some pretty amazing ideas. In fact, ear muffs, the popsicle and the trampoline were all invented by children. Even Berkshire Hathaway CEO Warren Buffett, who is worth $81.7 billion, according to Forbes, began hustling as a child, going door to door selling chewing gum. Yet, even if your kid isn’t destined to be the next Buffett or Mark Zuckerberg, encouraging an entrepreneurial mindset will help them develop necessary life skills, as well as teach them important financial lessons. “There are these unbelievable opportunities, as parents, that happen right under your roof to teach kids about money and entrepreneurship on the top of the list,” said Thomas Henske, a certified financial planner with New York-based Lenox Advisors.

Kids are just a sponge. When you expose them to things like brainstorming and prototyping, they get it. They are almost naturals at it. Don Bossi President, FIRST

By becoming an entrepreneur — whether it is simply putting up a neighborhood lemonade stand, launching a landscaping business or developing a new app — kids can learn about budgeting, saving, spending and investing. “It makes you value money more,” said Henske, who developed and runs his firm’s smart-money kids program. “It’s hard to make it. It’s hard to keep it.” It also helps children develop perseverance by learning from their failures, and it begins to introduce critical thinking, said Don Bossi, president of FIRST, a nonprofit organization that helps foster innovations by students K-12 in the fields of science, technology, engineering and math (STEM). “Failure is part of the learning process,” he said. “If they try something and it doesn’t work, instead of putting it down and walking away, nurture them,” he said. You can ask, “‘What did you learn from that? What can you do to make it better?'” Here are other things you can do to encourage your kid become an self-starter — and help them get smart about money in the process.

Foster creativity

The good news is young kids already think creatively. “Something about growing up sort of beats the creativity out of us,” Bossi said. “Young kids aren’t as constrained by history or what they know,” he added. “They are not afraid of being wrong. “They are not afraid of being told their idea is crazy. They are not afraid of failure.”

Henske agrees, pointing out that adults tend to group-think. So, if your kid has a great idea, be curious about it and help nurture it. Even if it is a “whacky” one, he said. “The second you start stifling it … they lose their confidence and start getting into group-think,” he warned.

Brainstorm

Does your kid want to find a way to start making money? The first thing to do is ask them what they can do to make it happen. That’s where brainstorming comes in. “Some kids will say, ‘I can rake the leaves,’ or ‘I can make the beds,'” Henske said. “You say, ‘Wow, could you build a business around that?'”

AndreyPopov | iStock | Getty Images

Henske likes to encourage brainstorming by using mind maps. It can be as simple as picking up a pen and paper or using an online tool, such as mindmeister.com. For example, his 15-year-old son came to him for money because he couldn’t get a job until he turned 16. Henske turned it around and asked him to come up with an idea to earn it on his own. His son is now developing an app and website that connects teens to neighbors who need chores done around the house. “There are cool opportunities for parents,” he said. “All you have to do is be aware and be on the lookout for it.”

Find a mentor

Kids don’t always like to take advice from their parents. “If your name is Mom or Dad, that pretty much means that you don’t know anything until that child turns 30,” quipped Henske. That’s why it’s important to have your child find mentors who can help guide them. It can be a local businessman, a family friend or an expert in the given field. More from Invest in You:

Make sure your kids grow up smart about money with these strategies

What successful couples know about money that you don’t

Here’s how much Americans are spending on their kids’ allowance To help explain his or her idea, your kid can even build a prototype to show to local experts, FIRST’s Bossi suggested. That could lead to success down the road. “Think ‘Shark Tank’ but at a local level,” he said.

Research the market

If you think your kid’s idea has the potential to turn into a business, first research the market to see what the need is and assess the competition. Come up with a business model and, if it is a product, figure out how much it would cost to produce it. “If all those things look good … your kid could start to talk to angel investors to see if someone can fund it, taking it from prototype and concept to production and maybe a real business,” said Bossi.

Teach life lessons along the way

As you guide your children through building and running their business, talk to them about profits and taxes, Henske said. You can also have them read books about famous entrepreneurs. But don’t overdo it. “Don’t get caught up, as a parent, trying to use the fire-hose method: You bring the kids in the room one day and sit in the room for five hours and teach them how to be entrepreneurs,” warned Henske.

SDI Productions | E+ | Getty Images

Instead, think about doing it a bit at a time. “Let it drip a little, let it sit and then talk about it,” he said. “And see what they come up with. “Or even let it sit a couple of weeks,” he added.

The bottom line


Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: michelle fox, cnbc staff
Keywords: news, cnbc, companies, kids, millionaire, entrepreneur, think, idea, teach, dont, henske, money, help, start, training, business, kid


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stanford psychology expert: This is the No. 1 skill parents need to teach their kids—but most don’t

Becoming indistractable is the most important skill for the 21st century — and it’s one that many parents fail to teach their kids. Kids need sufficient amounts of autonomyWe then asked her how much screen time per day she thought was good for her. Becoming indistractable is the most important skill for the 21st century — and it’s one that many parents fail to teach their kids. “How do you plan to make sure you don’t watch for more than 45 minutes per day?” It’s only when kids can monitor their


Becoming indistractable is the most important skill for the 21st century — and it’s one that many parents fail to teach their kids. Kids need sufficient amounts of autonomyWe then asked her how much screen time per day she thought was good for her. Becoming indistractable is the most important skill for the 21st century — and it’s one that many parents fail to teach their kids. “How do you plan to make sure you don’t watch for more than 45 minutes per day?” It’s only when kids can monitor their
Stanford psychology expert: This is the No. 1 skill parents need to teach their kids—but most don’t Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: nir eyal
Keywords: news, cnbc, companies, screen, kids, day, need, minutes, dont, psychology, stanford, important, indistractable, shes, parents, asked, skill, expert, teach, kidsbut


Stanford psychology expert: This is the No. 1 skill parents need to teach their kids—but most don't

As parents, we all want to raise kids who are smart and focused, especially in a world where digital distraction seems to be inescapable. (Even tech titans like Steve Jobs and Bill Gates have strategies for limiting their children’s screen time.) Why? Because in the future, there will be two kinds of people in the world: Those who let their attention and lives be controlled and coerced by others and those who proudly call themselves “indistractable.” Becoming indistractable is the most important skill for the 21st century — and it’s one that many parents fail to teach their kids. After years of studying the intersection of psychology, technology and how we engage with it, one of the biggest mistakes I see parents making is not empowering their kids with the autonomy to control their own time. Allowing them to do so is a tremendous gift; even if they fail from time to time, failure is part of the learning process. Parents need to understand that it’s okay to put their kids in charge, because it’s only when they learn to practice monitoring their own behavior that they learn how to manage their own time and attention.

Teach them at a young age

When my daughter was five and already insisting on “iPad time” with unrelenting protests, my wife and I knew we had to act. After we all calmed down, we did our best to respect her needs in the way Richard Ryan, one of the most cited researchers in the world on the drivers of human behavior, recommends: We explained, as simply as we could, that too much screen time comes at the expense of other things. As a kindergartner, she was learning to tell time, so we could explain that there was only so much of it for things she enjoyed. Spending too much time with apps and videos meant less time to play with friends at the park, swim at the community pool, or be with Mom and Dad.

Consumer skepticism is healthy

We also explained that the apps and videos on the iPad were made by some very smart people and were intentionally designed to keep her hooked and habitually watching.

Understanding that companies are motivated to keep kids spending time watching or playing is an important part of teaching media literacy.

It’s important that our kids understand the motives of the gaming companies and social networks: While these products sell us fun and connection, they also profit from our time and attention. This might seem like a lot to teach a five-year-old, but we felt a strong need to equip her with the ability to make decisions about her screen usage and enforce her own rules.

Kids need sufficient amounts of autonomy

We then asked her how much screen time per day she thought was good for her. We took a risk by giving her the autonomy to make the decision for herself, but it was worth a shot. Truthfully, I expected her to say, “All day!” But she didn’t. Instead, armed with the logic behind why limiting screen time was important and with the freedom to decide in her hands, she sheepishly asked for “two shows.” Two episodes of a kid-appropriate program on Netflix is about 45 minutes, I explained. “Does 45 minutes seem like the right amount of screen time per day for you?” I sincerely asked. She nodded in agreement, and I could tell by the hint of a smile that she felt she had gotten the better end of the deal. As far as I was concerned, 45 minutes was fine with me, as it left plenty of time for other activities.

Becoming indistractable is the most important skill for the 21st century — and it’s one that many parents fail to teach their kids.

“How do you plan to make sure you don’t watch for more than 45 minutes per day?” I asked. Not wanting to lose the negotiation that she clearly felt she was winning, she proposed using a kitchen timer she could set herself. “Sounds good,” I agreed. “But if Mommy and Daddy notice you’re not able to keep the promise you made to yourself and to us, we’ll have to revisit this discussion,” I said, and she agreed.

Prevent distraction with ‘effort pacts’

Today, as a spirited 10-year-old, my daughter is still in charge of her screen time. She’s made some adjustments to her self-imposed guidelines as she’s grown, such as trading daily episodes for a weekend movie night. She’s also replaced the kitchen timer with other tools; she now calls out to Amazon’s Alexa to set a timer to let her know when she’s reached her limit. The important thing is that these are her rules, not ours, and that she’s in charge of enforcing them. Best of all, when her time is up, it’s not her dad who has to be the bad guy; it’s her device telling her she’s had enough. Without realizing it, she entered into an “effort pact,” a kind of pre-commitment that involves increasing the amount of effort required to perform an undesirable action.

Don’t underestimate your child’s ability to follow through.

This type of pre-commitment can help us become indistractable. Many parents want to know if there is a correct amount of time kids should be allowed to spend on their screens, but no such absolute number exists. There are too many factors at play, including the child’s specific needs, what the child is doing online and the activities that screen time is replacing.

Discussions and respectful disagreements are healthy

The most important thing is to involve the child in the conversation and help them set their own rules. When parents impose limits without their kids’ input, they are setting them up to be resentful and incentivizing them to cheat the system. These strategies are no guarantee of parent-child domestic harmony. In fact, we should expect to have heated discussions about the role technology plays in our homes and in our kids’ lives, just as many families have fiery debates over giving the car keys to their teens on a Saturday night. Discussions and, at times, respectful disagreements are a sign of a healthy family.

It’s only when kids can monitor their own behavior that they learn the skills they need to be indistractable — even when their parents aren’t around.


Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: nir eyal
Keywords: news, cnbc, companies, screen, kids, day, need, minutes, dont, psychology, stanford, important, indistractable, shes, parents, asked, skill, expert, teach, kidsbut


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

How to recession-proof your life, according to the author of ‘I Will Teach You to be Rich’

Since the 2008 financial crisis, it seems like experts have been predicting that the next recession is just around the corner. It’s common to see news stating that economic indicators show the economy is poised to tumble or an economist pointing to the next bubble. These articles can be informative, but financial coach Ramit Sethi, author of the best-selling book “I Will Teach You to Be Rich,” says young people shouldn’t take them too seriously. Even to seasoned investors, the market is unpredic


Since the 2008 financial crisis, it seems like experts have been predicting that the next recession is just around the corner. It’s common to see news stating that economic indicators show the economy is poised to tumble or an economist pointing to the next bubble. These articles can be informative, but financial coach Ramit Sethi, author of the best-selling book “I Will Teach You to Be Rich,” says young people shouldn’t take them too seriously. Even to seasoned investors, the market is unpredic
How to recession-proof your life, according to the author of ‘I Will Teach You to be Rich’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-29  Authors: megan leonhardt
Keywords: news, cnbc, companies, tumble, life, young, tells, according, unpredictable, rich, teach, sethi, months, financial, recessionproof, tomorrow, market, author


How to recession-proof your life, according to the author of 'I Will Teach You to be Rich'

Since the 2008 financial crisis, it seems like experts have been predicting that the next recession is just around the corner. It’s common to see news stating that economic indicators show the economy is poised to tumble or an economist pointing to the next bubble. These articles can be informative, but financial coach Ramit Sethi, author of the best-selling book “I Will Teach You to Be Rich,” says young people shouldn’t take them too seriously. Even to seasoned investors, the market is unpredictable. “Nobody knows if the stock market is going up or down tomorrow, much less six months or 12 months from now,” Sethi tells CNBC Make It.

How to recession-proof your money


Company: cnbc, Activity: cnbc, Date: 2019-07-29  Authors: megan leonhardt
Keywords: news, cnbc, companies, tumble, life, young, tells, according, unpredictable, rich, teach, sethi, months, financial, recessionproof, tomorrow, market, author


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

I’ve been in finance for 30 years—and this is how I teach my kids about money

We play “Let’s Go Shopping”I’ve found that my kids are more engaged in the learning process when it’s experimental or gamified. We guide them through the budgeting processThe easiest way to teach your kids about budgeting is to budget together. That’s why it’s important to explain — in layman’s terms — how their money is earning more money (passive income) and how that additional money will continue to generate even more money (compounding). This is a great way to teach them about sharing, kindn


We play “Let’s Go Shopping”I’ve found that my kids are more engaged in the learning process when it’s experimental or gamified. We guide them through the budgeting processThe easiest way to teach your kids about budgeting is to budget together. That’s why it’s important to explain — in layman’s terms — how their money is earning more money (passive income) and how that additional money will continue to generate even more money (compounding). This is a great way to teach them about sharing, kindn
I’ve been in finance for 30 years—and this is how I teach my kids about money Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: jim brown
Keywords: news, cnbc, companies, wife, ive, yearsand, kids, teach, financial, way, help, money, children, good, play, 30, finance, parents


I've been in finance for 30 years—and this is how I teach my kids about money

Teaching your children about money doesn’t have to be complicated. You either put in the effort and time, or you don’t. And if you do, it’s best to start sooner rather than later. (According to a 2013 Cambridge University study , children are already able to grasp basic money concepts at age three, and by age seven, their money habits are already set.)

In my 30 years of professional experience, I’ve worked as an auditor, investor, tax preparer and financial consultant — and I’ve witnessed the impact of financial literacy (or lack thereof) on countless adults of all ages.

I hear this question often, and if you’re a parent, you’ve probably Googled it several times yourself.

My wife and I have two kids, both under 14. Like most parents, we don’t want them to suffer from financial anxiety when they’re older. Nor do we want them to be in debt and have to eat into our retirement savings.

The same way we want them to understand the importance of telling the truth or saying “please” and “thank you,” we also want them to understand the importance of money: What it’s worth, why it’s important and how to practice smart habits that lead to success.

In order to do that, we keep things fun and simple:

1. We play “Let’s Go Shopping”

I’ve found that my kids are more engaged in the learning process when it’s experimental or gamified. “Let’s Go Shopping” was a game we played when they were in preschool.

To start, we created a miniature supermarket in our living room — complete with a toy cash register and a farmer’s market fruits and vegetables play set. The register featured a numerical keypad, cash drawer and pretend money.

After my wife and I priced the items, we had one child do the shopping while the other handled checkout. We stood by to facilitate and answer questions. But eventually, they became skilled enough to play on their own.

Stimulating the shopping experience sharpened their math and budgeting skills. It also helped them feel more comfortable talking to one another about money.

2. We play “How Much Does It Cost?”

A game that we continue to play is “How Much Does It Cost?” (It’s basically our family’s version of “The Price Is Right.”)

At the dinner table, we all take turns presenting arbitrarily selected items for sale, along with multiple choice answers for their approximate prices.

A few examples:

Water bottle: $0.50, $2.50 or $6?

Movie ticket: $4, $10 or $40?

Monthly phone bill: $12, $100 or $400?

New (basic) car: $5,000, $35,000 or $500,000?

Games like this help them understand the relative values of various products and services.

3. We don’t freely give them money

One of the biggest mistakes I see parents making is offering unlimited funds to their children for non-essentials.

Our kids started getting a weekly allowance when they turned six. We’d give them $6 per week and increased the amount by $1 each year they got older. They could earn more if they did something good that week, like offer to help someone or ace a math test.

Of course, there are no set rules as to how much you should give your children; it mostly depends on your financial means and what you expect them to be financially responsible for.

The consequences of giving your children unlimited funds for discretionary spending (especially after they’ve used up their entire allowance) aren’t realized by most parents until much later.

Children of parents who do this may develop the habit of relying on additional funding sources that can be quite costly, such as debt in the form of high-interest credit cards.

4. We guide them through the budgeting process

The easiest way to teach your kids about budgeting is to budget together.

When my kids get invited to a birthday party, for example, I give them a reasonable budget and help them shop for a gift that stays within their price lane. (My wife and I prefer to do this on Amazon because it’s an easy way to teach them how to comparison shop.)

5. We show them how to put their money to work

When my oldest daughter saved up enough money, we relocated her cash from a piggy bank to a local bank.

“Congratulations! You’re putting your money to work,” I said.

Even though the process makes complete sense to you, it might be too abstract for some children. That’s why it’s important to explain — in layman’s terms — how their money is earning more money (passive income) and how that additional money will continue to generate even more money (compounding).

These are concepts and skills that will serve them for life.

6. We encourage them to do good with their money

My wife and I make it a point to donate to charity or a nonprofit organization every once in a while. It sets a good example for our kids and discourages behaviors of selfishness and greed.

When our kids have saved up enough money, we review a list of charitable organizations together (Charity Watch is a good place to start) and have them pick one that supports a mission they value.

This is a great way to teach them about sharing, kindness and how money — whether it’s $1 or $10 — can be used to help others.

Jim Brown is a financial consultant and the founder of Jim Brown Investing. With more than 30 years of expertise in the financial industry, Jim has been interviewed on Yahoo! Finance TV, the So Money Podcast with Farnoosh Torabi, KFNN Money Radio and U.S. News & World Report. He is also the co-author of “Financial Statement Fraud Casebook: Baking the Ledgers and Cooking the Books.”

Like this story? Subscribe to CNBC Make It on YouTube!

Don’t miss:


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: jim brown
Keywords: news, cnbc, companies, wife, ive, yearsand, kids, teach, financial, way, help, money, children, good, play, 30, finance, parents


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Here’s how the super rich teach their kids about money

Robert Daly | Caiaimage | Getty ImagesWhen it comes to teaching kids about money, the super rich are different from average Americans. It’s also because money is something that many of them would rather not talk about, said Rich Morris, co-author of the book “Kids, Wealth and Consequences.” The end goal is to make sure kids are learning about how to be responsible and have a healthy attitude about money. Boudewyn suggests helping younger kids with things such as counting money, talking about the


Robert Daly | Caiaimage | Getty ImagesWhen it comes to teaching kids about money, the super rich are different from average Americans. It’s also because money is something that many of them would rather not talk about, said Rich Morris, co-author of the book “Kids, Wealth and Consequences.” The end goal is to make sure kids are learning about how to be responsible and have a healthy attitude about money. Boudewyn suggests helping younger kids with things such as counting money, talking about the
Here’s how the super rich teach their kids about money Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-26  Authors: michelle fox
Keywords: news, cnbc, companies, teach, wealth, super, money, heres, rich, family, financial, start, personal, plan, boudewyn, children, kids


Here's how the super rich teach their kids about money

Robert Daly | Caiaimage | Getty Images

When it comes to teaching kids about money, the super rich are different from average Americans. But it’s not only about the amount of wealth they have. It’s also because money is something that many of them would rather not talk about, said Rich Morris, co-author of the book “Kids, Wealth and Consequences.” “For the most part, money is a taboo subject in this society and wealthy people do not do all the things they need to do,” he said.

It requires more intention than ever and really an active action plan, a proactive plan. Arne Boudewyn Abbot Downing

They may also turn to financial professionals to do the job for them. Arne Boudewyn, who leads the Institute for Family Culture at Abbot Downing, said his group is often asked to interview clients’ adolescent and young children to “find out what’s on their minds” or to educate them without the influence of family dynamics. The end goal is to make sure kids are learning about how to be responsible and have a healthy attitude about money. “Parenting is hard no matter what,” Boudewyn said. “Add significant wealth, there are some things you have to think about.”

Sign Up for Our Newsletter Your Wealth Weekly advice on managing your money SIGN UP NOW Get this delivered to your inbox, and more info about about our products and services.

By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.

On top of that, many parents think their children are learning personal finance in school — when in reality, that’s not usually the case. Only 17 states require that high school students take a personal finance class, according to a 2018 survey by the Council for Economic Education. “There is a big disconnect, and that extends to the affluent and ultra-high-net-worth people,” Boudewyn pointed out. “People think more is getting passed along to their kids than actually is.” “It requires more intention than ever and really an active action plan, a proactive plan,” he added. That means implementing a strategy that starts when your kids are young. And it isn’t always just applicable to the wealthy — everyday Americans can also apply many of the strategies in their financial teachings.

The big picture

The No. 1 thing wealthy parents have to do is talk to their kids about money — how much wealth the family has, their plans, how they built their wealth and whether they plan on leaving the kids anything in their will or if their children are going to be on their own, said Morris. It’s not just one single conversation, he added: “It’s conversations often and at every age and every maturity.”

Ages 5-9

Sasi Ponchaisang / EyeEm | EyeEm | Getty Images

Parents should start with teaching a basic understanding about money and communicating what their family’s values are when it comes wealth. That can be explaining what it costs to buy something and what the family’s annual spend is, say, on something like school activities. Boudewyn suggests helping younger kids with things such as counting money, talking about the history of money and giving them a tour of the state’s Federal Reserve bank or any local bank. Also, he suggests having them divide their allowance into savings, spending and giving. Even basic investing principles can be introduced — such as explaining what a stock is and what it means to have equity in something, he said. More from Personal Finance:

Adult children are eating into parents’ retirement savings

Tap expert-level financial advice — without being a millionaire

Are Americans overly confident about retirement?

Ages 10-14

At this age, it’s a good idea to talk about budgeting basics, said Boudewyn. Children can be introduced to banking and taught how to manage their own financial lives. Taking a little bit of a deeper dive into investing basics is also a good idea. You can give your kids a small amount of money to invest, or you can create a mock investment account that they can build and manage over time, he said.

Ages 15-17

The core topics in the later teen years should be around budget management. “They should be getting ready for life on the road,” Boudewyn said.

Whether they are going to leave home for college or a job, teens should start to understand about the dos and don’ts of renting an apartment, buying a car and handling a roommate situation. They should also learn how to manage their money, know the pros and cons of credit cards and have an understanding of their credit rating.

Ages 18-21

As your children turn into young adults, they should start to understand personal investing and understand their risk tolerance. They should also set personal financial goals. That includes “really thinking about how can I start to set aside money for taking care of myself in the future,” said Boudewyn. Young adults can also use the family enterprise to start learning about wealth opportunities in the context of running a business, he added. That can mean pulling them into the business meetings and giving them an overview of the enterprise.

Ages 22 and up

Twenty20

At this age, your offspring may be thinking about whether they should rent or buy a home. If they are buying, they need to understand mortgages and how they want to borrow and how they can preserve their cash. They should also start to review their credit report and think about their experience with debt management. For the children of the wealthy, this is also an opportunity to give back. Because their family’s wealth is assured for the next several generations, many like to look at how they can improve the world. They can also take a job at the family business, Boudewyn said.

The bottom line


Company: cnbc, Activity: cnbc, Date: 2019-04-26  Authors: michelle fox
Keywords: news, cnbc, companies, teach, wealth, super, money, heres, rich, family, financial, start, personal, plan, boudewyn, children, kids


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Make sure your kids grow up smart about money with these strategies

Adults, who have learned from experience about irresistible sales pitches, can find it hard to make good financial decisions. Is it reasonable to expect a first-grader to understand the future consequence of present decisions? In fact, you can teach kids to understand money, whether they’re 3 or 13. After all, the family is the first place most of us learn about money. Over a third of respondents in the Invest in You Savings Survey said their financial role model was a parent.


Adults, who have learned from experience about irresistible sales pitches, can find it hard to make good financial decisions. Is it reasonable to expect a first-grader to understand the future consequence of present decisions? In fact, you can teach kids to understand money, whether they’re 3 or 13. After all, the family is the first place most of us learn about money. Over a third of respondents in the Invest in You Savings Survey said their financial role model was a parent.
Make sure your kids grow up smart about money with these strategies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: jill cornfield, source, wendy juvenal mays, nicholas hartford, -thomas henske, cfp, lenox advisors
Keywords: news, cnbc, companies, kids, parent, future, money, understand, sure, wideeyed, theyre, financial, survey, teach, grow, strategies, usadults, smart


Make sure your kids grow up smart about money with these strategies

Money is big, and it’s all around us.

Adults, who have learned from experience about irresistible sales pitches, can find it hard to make good financial decisions. Imagine what it’s like for a wide-eyed 8-year-old to confront a dizzying array of choices. We know what can happen in the future if we don’t save.

Is it reasonable to expect a first-grader to understand the future consequence of present decisions?

In fact, you can teach kids to understand money, whether they’re 3 or 13.

And who better than you to deliver these lessons? After all, the family is the first place most of us learn about money. Over a third of respondents in the Invest in You Savings Survey said their financial role model was a parent. Men had a slight edge as the go-to parent: 19% of participants said it was their dad, and 18% said it was their mom.

Thomas Henske, a certified financial planner with Lenox Advisors, likes this metaphor.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: jill cornfield, source, wendy juvenal mays, nicholas hartford, -thomas henske, cfp, lenox advisors
Keywords: news, cnbc, companies, kids, parent, future, money, understand, sure, wideeyed, theyre, financial, survey, teach, grow, strategies, usadults, smart


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

If you are a ‘Game of Thrones’ fan, this app will teach you how to speak in High Valyrian

While only one character can speak native High Valyrian on “Game of Thrones,” viewers nationwide are picking up a few words and phrases from an unlikely source: Duolingo, the free language-learning app. High Valyrian isn’t the only fictional language Duolingo has to offer. That’s not the case when it comes to High Valyrian, where Peterson is a contributor and develops the courses for free. The origins of High Valyrian come from the book that inspired the show, written by George R.R. While users


While only one character can speak native High Valyrian on “Game of Thrones,” viewers nationwide are picking up a few words and phrases from an unlikely source: Duolingo, the free language-learning app. High Valyrian isn’t the only fictional language Duolingo has to offer. That’s not the case when it comes to High Valyrian, where Peterson is a contributor and develops the courses for free. The origins of High Valyrian come from the book that inspired the show, written by George R.R. While users
If you are a ‘Game of Thrones’ fan, this app will teach you how to speak in High Valyrian Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: noah higgins-dunn, source, george kavallines
Keywords: news, cnbc, companies, course, valyrian, thrones, speak, peterson, game, teach, created, develop, app, high, feinberg, fan, duolingo, language, languages


If you are a 'Game of Thrones' fan, this app will teach you how to speak in High Valyrian

“Skorverdon zaldrīzoti Daenerys ēza?”

Translation: How many dragons does Daenerys have? It’s not a ridiculous question if you’re a fan of the HBO hit series “Game of Thrones,” which returns for its eighth and final season on Sunday. The language? It’s called High Valyrian, the tongue of the ruined Valyrian Freehold empire, and it’s one of four languages created by linguist David J. Peterson spoken on the show.

While only one character can speak native High Valyrian on “Game of Thrones,” viewers nationwide are picking up a few words and phrases from an unlikely source: Duolingo, the free language-learning app.

Duolingo first offered lessons in High Valyrian in 2017 and, since then, 1.2 million people have started the course. In the last two weeks leading up to the premier of the final season, Duolingo has seen a near 65% increase in people taking the course, said Sam Dalsimer, a spokesman for Duolingo.

High Valyrian isn’t the only fictional language Duolingo has to offer. Star Trek fans can find Klingon, a language constructed by Marc Okrand and centered around spacecraft, warfare and weaponry.

To offer languages on Duolingo, the company usually relies on hundreds of volunteers and employees to develop course material and monitor users’ experiences. That’s not the case when it comes to High Valyrian, where Peterson is a contributor and develops the courses for free.

“We teach over 30 languages and most have thousands of people who speak them and are capable of helping us teach them.” Dalsimer said. “There’s only one person on planet Earth who knows the language, and that’s David Peterson.”

The origins of High Valyrian come from the book that inspired the show, written by George R.R. Martin. Peterson won a contest to develop the more common language used on “Game of Thrones” called Dothraki but was asked to build High Valyrian later in the series. His goal was to create a classic language that could give birth to many others, similar to Romance languages, and Peterson noted it had to fit with the names Martin created for the book, such as Daenerys, Viserys and Rhaella.

There are now 824 words of High Valyrian that users can learn on Duolingo, and that number continues to grow. Peterson said there are now 2,000 words in the full version of the language he maintains.

“With every single language I create I keep working on it for the rest of my life or until I’m not happy with it,” said Peterson, who has created more than 50 languages. “It will basically just be another one of my languages, it’s not like it’s going to get any special treatment.”

When Peterson first encountered Duolingo, he felt it could revolutionize the way people learned languages. It had a great interface, it was free and, as a linguist, it’s the dream for people like him to create languages people would have access to, although he didn’t foresee how popular High Valyrian would become.

Today, High Valyrian has 822,000 active learners, or those who have used the course in the last 12 months. That’s more than Czech, Norwegian, Vietnamese and Hungarian.

“I imagined it would attract casual interest, but I never imagined there would be that many people who would actually be interested in taking the course,” Peterson said.

There is one statistic Peterson is particularly proud of: 44% of users who came to Duolingo to learn High Valyrian went on to practice other languages. While users may not perfect High Valyrian, Peterson sees the language as a “gateway drug” to learners discovering other cultures.

“As we become more economically focused, people view language as a tool as opposed to an art piece in and of itself or cultural history,” Peterson said.

More than 40% of the world speaks one of eight languages, although there are more than 7,000 worldwide. UNESCO, The United Nations Educational, Scientific and Cultural Organization, has labeled 2,680 languages in danger as it celebrates the International Year of Indigenous Languages, designed to raise awareness to disappearing languages.

“It’s nice that the UN is putting this emphasis on indigenous languages because people need to start addressing this issue,” Peterson said. “We’re losing them and we’re losing them quickly, and once they’re lost, they’re lost.”

Duolingo has worked with communities and volunteers like Peterson to develop courses in endangered languages, such as offering lessons in Hawaiian, Irish and Navajo, Dalsimer said.

“Those courses are driven entirely by volunteer contributors and for them it’s more about a desire to preserve their language and their culture because they see it as being endangered, and it is,” Dalsimer said. “Languages die every year and Duolingo can help them preserve it.”

More from CNBC Disruptor 50:

Uber releases its long awaited IPO filing

Apple slams Spotify’s claims about App Store

“I remember thinking that if David Peterson ever taught the ‘Game of Thrones’ language I would definitely check it out,” said Andrew Feinberg, a volunteer for Duolingo who has used the app since its beta version nearly seven years ago.

Except when Duolingo announced it would offer High Valyrian courses, Feinberg thought it was a joke. He helped Duolingo develop its Norwegian and Japanese platforms, and he’s witnessed the company’s pranks in the past, like when it offered pirate and zombie languages.

But Feinberg noticed the only contributor to the course was Peterson. That’s when he realized it wasn’t a joke.

Peterson, dubbed by the Los Angeles Times as “Hollywood’s go-to language guy” has created languages for many film and television projects, including the movies “Thor: The Dark World” and “Doctor Strange.”

“I had sort of stalked him on YouTube and watched all those videos on how he created those languages,” Feinberg said. “I was really excited for it. I knew that he was a serious linguist who had complimented Duolingo before.”

Now Feinberg manages learning groups on Facebook for Japanese, Chinese, Norwegian and, a day after its introduction, High Valyrian, which has amassed over 200 members learning alongside Peterson himself, who encourages people to use and develop the language in conversation with each other even if that means moving beyond what he imagined.

“It’s always a little different since I did create High Valyrian and, in a sense, there is an arbiter to determine what is right and what is wrong,” Peterson said. “But as long as I’m here I feel like not only do I want to, but I should be there to try to help people out.”


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: noah higgins-dunn, source, george kavallines
Keywords: news, cnbc, companies, course, valyrian, thrones, speak, peterson, game, teach, created, develop, app, high, feinberg, fan, duolingo, language, languages


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post