How to make your children rich


It’s important to have rich children.

There I said it.Children Holding Their Piggy Bank

Now, before you tell me there are more important things in life, let me clarify what I mean.

Rich children grow into adults who are wealthy, yes, but they’re also resilient, curious, independent and compassionate.

Being rich is about wealth in all facets of our life.

Too often we focus on one aspect, usually money, not realizing that financial wealth, good relationships and happiness are all linked.

So how do you go about creating a rich child?


Kids learn from their parents.

They do this by taking in not just what we teach them, but what we do.

This is very powerful.

If a child sees their parents going off to work everyday miserable, or even just complacent, then that will have an impact on them.

They’ll see work or a career as something you endure, that you turn up for, but don’t necessarily embrace.

On the other hand, if you’re ambitious, if you take calculated risks and follow what you’re passionate about, this is going to have a lasting impression on your child.


We spend a lot of time telling our kids what not to do. Young Businessman Makes Money With Homemade Money Machine

Don’t be rude, don’t be messy, don’t be disrespectful to others.

These are all very important qualities.

But what about ambition?

We never teach our children to dream because we think that’s something that can’t be taught.

But it can.

You teach a child to dream by encouraging them to think of things they would like to achieve in the future and then help them plot their course.


As a parent, you need to be on high alert for your children’s skills and interests.

What are they drawn to?  parent

Do they love painting?

Do they have a tendency towards figures and maths?

Maybe they’re obsessed with animals.

Once you identify the areas of interest, you need to encourage them to think about how they could work in these fields when they’re older.

You could point out how they could use their creative side to create their own business.

Above all, you are teaching them the important like skill of identifying interests and strengths and building a career from them.

You are also teaching them to not worry about what other people do with their lives — it’s about identifying their own interests and passion.


There are a lot of talented young people in the world, but often what trips them up and stops them from succeeding is a lack of patience.

They want success now. Young Business Boys Race Toy Cars

They want it yesterday.

Teach your child the importance of hanging in there

. Sometimes they will have to tread water.

Sometimes they will feel like they’re going backwards.

Rarely, will things proceed in a straight line.

Patience makes all the difference.


An open mind is the only way to have a truly great idea.

And truly great ideas make the best businesses.

Teach your child to ask questions.

Expose them to different places and people. Show them how big and interesting the world is.

A curious child will grow into an adult who is never bored and is constantly engaged.


Children often struggle with losing.boy-926103_1920

They haven’t developed the full range of social skills and behaviours that makes them good losers, and, if I’m honest, some never do.

This is where you come in.

Show them how to praise others when they’ve been beaten at something.

Show them how to compete with others, but remain friendly and civil.

And, most importantly, show them how to bounce back after a setback.


At a certain age, you’ll need to show your children how toBoy And Girl Dressed As Superheroes On California Beach answer their own questions.

Independence is an important skill, too, so occasionally you need to ask them what they think.

If they routinely come to you for answers, bat the ball back to them and see what they suggest.

It’s often said that children are sponges, absorbing what they see and the world around them.

This is true, and their biggest influence is you as a parent.

Show them how to win, lose, think and explore, and they will turn out to be thoughtful, independent, and, yes, rich children.


Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.


Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media. Visit

'How to make your children rich' have 2 comments

    Avatar for Michael Yardney

    November 14, 2020 Flemming Hoeg

    It is a habit of mine to use Paypal every time I make payments on the web, because previously it has happened that my visa card details are being misused.
    Why don’t you offer payment through Paypal?


Would you like to share your thoughts?

Your email address will not be published.


Copyright © Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts