Make Your Kid a Millionaire: 11 Easy Ways Anyone Can Secure a Child's Financial Future [Paperback]

Kevin McKinley (Author)

Book Description

Publication Date: January 1, 2002

A STEP-BY-STEP PROGRAM THAT SHOWS PARENTS WHAT TO DO AT EACH STAGE OF A CHILD'S LIFE TO PROVIDE WEALTH FOR THE NEXT GENERATION.

If you're like most parents, you know that you should start saving for your children's future but you're just not sure where to begin.

In Make Your Kid a Millionaire, Kevin McKinley presents eleven easy ways parents can give their children a college education, a home, a comfortable retirement, and a chance to reach their goals without looking to you for money. With a commonsense approach, McKinley takes the reader from the birth of a child into adulthood and

• Guides parents through market swings
• Shows parents and grandparents how to cut their tax bills as they grow their family net worth
• Recommends "catch-up" tips to parents who haven't started saving yet
• Shows you where to find money to save

Whether you earn six dollars an hour or six figures a year, Make Your Kid a Millionaire helps your kids acquire everything that more money can provide: Time. Knowledge. Security. Stability. And it will grant you the peace of mind that comes with supplying your children with a financial head start.

Editorial Reviews

From Library Journal

This book isn't as outrageous as its title makes it seem herein is sound advice for parents with young children. A financial planner and parent, McKinley stresses that providing financial security for our children doesn't concern money as much as it does freedom from ordinary economic pressures like earning enough money in a career, needing to work into old age, or struggling to afford the best possible college. Lessening these pressures, he wisely advises, "doesn't guarantee a life of quality, but it sure gives [your child] a better shot at happiness than not doing anything." McKinley's tone is helpful and humorous, and his style facilitates quick understanding. As a primer on investment vehicles (e.g., what's a zero coupon treasury?), this resembles the ubiquitous Personal Finance for Dummies (Hungry Minds, 2000. 3d ed.) but targets strategies and tips benefiting children (e.g., "a dollar a day saved at 10% annually gives a newborn baby over $2.4 million at age sixty-five"). A glossary would have been helpful, and the information here will become dated within a few years, but the price is very reasonable. For public libraries. Douglas C. Lord, Connecticut State Lib., Hartford
Copyright 2001 Reed Business Information, Inc.

Review

The Motley Fool Set your child up for a lifetime of financial security....Clearly written and chock full of insights and guidance.

Neale S. Godfrey author of Money Doesn't Grow on Trees Make Your Kid a Millionaire...is about how money can be the conduit to a healthy life of choices.

Dennis McCuistion host of PBS's McCuistion Program I recommend this book so parents can make Social Security irrelevant for their kids.

Joseph Hurley author of The Best Way to Save for College Offers invaluable advice for parents. This book will get you to take action.

Lawrence J. Cohen, Ph.D. author of Playful Parenting Kevin McKinley doesn't just understand money, he understands parents as well.

See all Editorial Reviews

Product Details

• Paperback: 304 pages
• Publisher: Touchstone; Original edition (January 1, 2002)
• Language: English
• ISBN-10: 0684865645
• ISBN-13: 978-0684865645
• Product Dimensions: 8.4 x 5.5 x 0.8 inches
• Shipping Weight: 12.3 ounces (View shipping rates and policies)
• Average Customer Review: 4.6 out of 5 stars  See all reviews (15 customer reviews)
• Amazon Best Sellers Rank: #720,823 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

12 of 12 people found the following review helpful:

5.0 out of 5 stars The Best Bet for Parents!, January 8, 2002

By A Customer

This review is from: Make Your Kid a Millionaire: 11 Easy Ways Anyone Can Secure a Child's Financial Future (Paperback)

I received this book as a late Christmas present and think it should be a mandatory read for all parents, of children young and old. I'm still unclear as to what my own parents were thinking when we were growing up regarding our financial future. I know now they didn't create college funds or wedding funds or life insurance plans for us. This book shows how parents -- no matter the income level, resources, desires for the kids' futures -- can invest and save for the next generations. I like the way the author writes - it's witty and clever without being silly and trite. And the suggestions are crafted in a way that makes follow-up easy and manageable, even for a novice like myself. I highly recommend!

9 of 9 people found the following review helpful:

3.0 out of 5 stars Good primer, January 28, 2007

By 

ScrawnyPunk (Houston, TX USA) - See all my reviews

Amazon Verified Purchase

This review is from: Make Your Kid a Millionaire: 11 Easy Ways Anyone Can Secure a Child's Financial Future (Paperback)

This book is a good primer for anyone who feels they are a beginner when it comes to personal finance. However, even though I have been around the block a time or two with this particular subject, I still found some things that were new to me (for instance...how to tell let the grandparents know where to send money without coming across as a money-grubber). For the price, I would recommend it to anyone.

This book is written in a conversational style and is extremely easy to read. I would caution that some of the suggestions appear easier than they actually are. For instance, it is theoretically possible to make someone a millionaire by saving tiny amounts of money for 50 years, but I challenge you to find a blue collar employee who is currently saving for their CHILD'S retirement. I also believe that some of the recommendations may not serve in the best interest of your children (i.e. can you trust them to be self-sufficient and motivated when you provide for every single financial need over the entire course of their lives?) Nonetheless, 90% of the ideas are sound and should be read by anyone with beginner's questions.

7 of 7 people found the following review helpful:

5.0 out of 5 stars A Must-Have For All Parents, January 2, 2002

By 

Mike (Wisconsin) - See all my reviews

This review is from: Make Your Kid a Millionaire: 11 Easy Ways Anyone Can Secure a Child's Financial Future (Paperback)

It's hard to find a book that's both fun and easy to read, AND worth the price 100x over, but I found one in Make Your Kid a Millionaire. It should be required reading for all expectant parents, but it's nice to know that if you didn't start saving from Day 1, you can start when your child is 8 or 10 and still have a profound impact on their financial future (and the future of your childrens' children). The title is somewhat misleading, as this book will benefit parents as much as it will benefit their children. The best $... investment I've made!