His 13-Year Old Daughter Doesn't Know She Has $1,000,000 (Part 2)

Next Steps:

Support our Sponsors:

Watch more from Ramsey Network:

Ramsey Solutions Privacy Policy

[obibear]

Dad needs to educate his daughter about money now!

[MegaBpop]

If she finds out how much money there is and she starts telling her friends. Then she will start being used and getting hurt. Plz protect her and put that $ somewhere she can’t touch it till she is 22-25 y o, if you can.

[Vincent.oconnorOConnor]

He is correct. I went to work at 16, had no parental guidance, earned a good wage and spent the next 25 years smoking and drinking like it was going out of fashion . Could and should have done a lot better with a little guidance. Thankfully I met a good woman and finally woke up.

[igotstoknow]

Most parents don't mentor their children.
I can't remember one important thing in life that my parents took the time to help me to understand and remember.
Fortunately, I was saved in my early 20s and began to grow up.

[fleurelise]

Why it must be put in a trust 🤦🏽‍♀️🤦🏽‍♀️🤦🏽‍♀️and protected with serious legal documentation

[darrellm.]

Never never never tell a child in grade school they got money in the bank

[AuthenticallyTee]

I think he can start small. Like if she wants something now make her get a job and show her she has to work for things that she wants. Don’t even buy her a car outright. Let her work for half of the car and show how to save with small funds. As age gets older like 16, she will be able to absorb for financial advice. There is a big difference from 16 to 18 to 21 to 25 and then 30. Best of luck to you both.

[drewsiph]

She’s definitely going to blow that money. Give her 20k and see what she does with it first. Don’t tell her how much she has.

[speclkk]

Thanks for finishing this video for me ❤❤❤

[marktate]

2% of 13 year olds will actually think about this, the other 98% will have 50% understanding of it. Wait till they are 16/17. That's wheb college will be of importance anyways.

[ashleenicole]

Teach her waiting.
She wants something "that will have to wait a bit."..
The idea many end up with is..i want it now.

[cindyriehm]

Money is a tool to continue to make good choices.
Yes educate her. Teach her to invest. Take her to those people who can teach her. Or maybe some type of "internship " at a brokerage firm. Write down and teach her some scenarios that woukd work for her. And some things bad that are not right to do with it and why. No one ever told me the why.
It was always NO! Not this how you act toward money and why. Annuities.

[christineperez]

Also parents tend to get greedy and try to manipulate the 18 year on how they can get their hands on that money. He may not know what to do with the money either.

[rubygreen]

Teach her long term healthy investing. Open a custodial investment account and let het learn with $50

[gab]

PLEASE don’t give her those millions! Pay for her college and that’s it🤦‍♂️

[annm.]

Don't tell her anything they get lazy

[gusssyvb]

Honestly by the time she goes it might cover half of her college

[GApeech]

Wrong advice. He needs to do LESS TALKING and MORE DOING. Make her work, earn, and save, give too.

If she knows about the money, he's done too much talking already.

[chevysaregr]

Invest it. By the time she turns 23, when she'd graduate college, she can live off the interest the rest of her life. Going to college is stupid

[MelissaWilliams]

Just talk about money around her in a positive way- watch YouTube or shows about it together - don’t tell her show her. Nothing means more to a daughter than what her father says and she doesn’t have her mom. So talking to her about money right now is a lot bc she is going thru a lot of changes. Just be the good money example you want her to be