Can you teach your kids to be rich?

Some characteristics of the wealthy are born, not bred. But there's plenty you can do to make your children smarter about money.
By Abby Ellin

If you're like most people, chances are you spend a lot of time thinking about your money. If you're a parent, you may spend even more time thinking about your kids' money -- or, rather, how to ensure they have some when they need it.

One of the great debates of parenting is whether it's possible to instill in kids the attitudes that will help them handle money well. Can you motivate a child to put his allowance into a savings account rather than spend it at the local toy store? Can you -- and should you -- inspire a child to dream of 10,000-square-foot homes and a sparkling new Porsche?

In short, can wealth be taught?

As in most nature/nurture debates, the jury's still out on this one. But there's a lot to think and talk about. Most experts believe the desire to amass wealth is the result of a friendly mixture of genes and gumption -- wherever that comes from. In other words, a lot of it is baked into the personality early on. On the other hand, experts also believe it is possible to teach your kids behaviors that will increase their wealth -- and that it's never too early to start. Best toys for minimoguls

When kids have both the inner drive and encouragement in the right direction, get out your calculator because the sky's the limit.

"Can wealth be taught? Absolutely. Are people born with a wealthy mindset? Absolutely," says Dr. Gabriela Cora, president of the Executive Health & Wealth Institute, a corporate consultancy in Miami. "I believe someone who is born with the inner motivation to succeed -- and encounters a fertile environment that enables the potential for accumulating wealth -- will find extraordinary opportunities."

Cora has identified three key characteristics that she believes most wealthy people possess: risk-taking, creativity and perseverance. Although these traits do have a genetic component, they can also be coaxed along and brought to the forefront.

What's more, studies show that kids want to learn about money. According to Charles Schwab's annual Teens & Money survey, 89% of teens say they want to learn how to make their money grow.

Trouble is, a lot of kids aren't getting the financial coaching they need. According to the Schwab survey, fewer than one in three respondents believe their parents or guardians are making sure their teens learn the basics of smart money management. And only five states require financial education, reports the National Council on Economic Education.

"What we all need to work on together -- and, I believe, rather urgently -- is elevating economics, including personal finance, to be the fourth 'R' in education: reading, 'riting and 'rithmetic . . . and the real world," says Gary H. Stern, president of the Federal Reserve Bank of Minneapolis and chairman of the education council.

Frank McKinney echoes that sentiment. McKinney is a 43-year-old self-made millionaire who dabbles in ultra-high-end real estate for the mega-rich in Palm Beach County, Fla. He is actively teaching his 9-year-old daughter, Laura, about managing wealth. He tries to exhibit the behaviors he wants her to mimic.

"You can't tell a kid to 'Do as I say, not as I do,'" he says. McKinney feels it's crucial for kids to see parents budgeting -- both time and money -- as well as socking money away and not spending gobs of money on unnecessary items. Debt is a 4-letter word

So, for example, he maintains a "priority sheet" in order to keep his life balanced and on track. And Laura, in turn, keeps one for herself. The two are working together on the concept of risk vs. security. For instance, Laura has some McDonald's stock; together they've been discussing whether she should hang on to the stock and potentially make a lot of money or sell the stock now and invest the proceeds in a totally safe account.

The elder McKinney includes his daughter in business events. His latest project is building the most expensive "green-certified" home ever built -- a $29 million spread in Manalapan, Fla. Laura was at his side throughout the groundbreaking ceremony. She is also active in his philanthropic endeavors.

"She clearly understands my commitment: To whom much is entrusted, much will be expected," he says.

The McKinneys make sure that family plans reinforce the right priorities. On Christmas morning, they first go to church as a family; only later do they come back and open up gifts, to make sure the emphasis is on the holiday and not on the presents.

Former minister Steve Miller has tried to impart similar lessons to his seven sons, who range in age from 13 to 27.

Miller and his wife, Sheri, felt it was important to show their kids how to watch expenses. They try to set a good example by living way beneath their means.

"Just like talking to your kids about sex, I believe there should be many discussions, not just one biggie," says Miller, founder of Legacy Educational Resources, a nonprofit outside Atlanta offering information on personal money management (www.enjoyyourmoney.org).

And the Millers put their guidance into practice. Three years ago, each of their children received a $5,000 inheritance. Rather than spending the money individually, however, the entire family decided to invest in foreclosure houses. "That way everyone gets to learn a skill and you get to see your money grow," says Miller. So far, they have bought and sold five houses together.
Every time they profit from the sale of a house, they go out to a steakhouse to celebrate.

The Millers have gotten used to thinking about the consequences of money decisions.

"I tell them that they can't compulsively buy all the latest fashions and get ahead financially," Miller says. "When one of my sons felt the pressure, as a sixth-grader, to purchase an outrageously expensive tennis shoe, I calmly told him that I'd pay up to $35, the price for a normal tennis shoe of good quality. If he wanted to upgrade to the 'coolest shoe,' he could pay the difference from his own money." Talking with your kids about money

Not surprisingly, his son made do with the cheaper shoe and has avoided outrageously priced designer clothes ever since.

Of course, not all of the Miller sons share their father's savvy financial instincts. Some are big savers and simply need guidance on how to manage and invest their increasing wealth; others would rather empty their pockets in one splurge. Some are ambitious; others work as little as possible -- just enough to keep food in their mouths. What this means is that Miller must coach each one separately, tailoring his financial discussions to their individual needs.

Nan Andrews Amish, a business consultant in San Francisco, believes that the best thing a parent can do is to make finances relevant to a child's world.

"Buying stocks may not make sense for many kids, but trading baseball cards or saving for that computer may," she says. "Trading on eBay may, (or) paying attention to trends in shopping may. When they're old enough, tracking paper portfolios with an incentive can build interest."

Most parents understand that they shouldn't force their own ambitions on a child. If young Jane dreams of being a letter carrier, police officer or peace broker, psychologists say, encourage her to follow her passion -- all the while teaching her the basics of money.

That's exactly what Miller did with his son Benji, now 19. Benji was never a straight-A student, but he loved cars. At 12 he began taking auto mechanics classes; by age 18 he had finished a one-year certificate in mechanics. After a few months he got a job at a shop and began making about $500 a week. Granted, it doesn't sound like a lot of money -- but he lives at home and has no expenses. His father told him that if he invested his money he could live at home rent-free.

"By 24 -- a time when most kids have debt -- he will have accumulated $140,000, and that's by being a mechanic," Miller says.

For her part, Dr. Cora believes the best thing a parent can do to teach kids about wealth is to expose them to the habits of mind that lead to success.

"Teach them to think like an entrepreneur -- to create new opportunities, rather than to just think about money," she says.

[via MSN]

Yoga Teacher Training Aspects - Teach your Students about Tranquility

By Paul Jerard

Yoga has been shrouded in mysticism for thousands of years. This is not a bad thing, as the goals of Yoga are far beyond the pictures you see on the covers of Yoga magazines today. So, what are the real goals of Yoga?

Should you go into a long speech about Atman (the soul or true self), and the divine cosmic being (Brahman) becoming one? To be honest, I did once see a Yoga teacher go into an "elevator speech" about the union of self and the "Absolute," but he successfully scared his prospective students away, before their first lesson.

In a nut shell, there are many goals of Yoga, but make it simple for people who walk in the door. Just say: "Tranquility" and they will understand. Tranquility is just one word, which thoroughly explains what a student should be able to expect from his or her first Yoga class, and the following classes, as well.

The initial benefits of physically-oriented classes are balance, muscle tone, improved circulation, and a sense of well being. These are the most basic benefits of Hatha Yoga practice, and they yield a sense of harmony with the world around us.

So, when do you tell them about all the other fantastic benefits? Please let your students "enjoy the ride," as you did. Just because you can show them the deeper aspects, does not mean it is time to do so. Let them develop a sense of self-observance, bliss, wholeness, and tranquility, without all the dogma.

The Yoga teacher's mission is to guide students, when they need our help. We can accomplish this by letting them breathe and practice beyond the classroom. This is the only way a student can become self-sufficient. We cannot hover over our students like concerned foster parents, because we would take away their joy of discovering.

Ultimately, the best students will discover the "teacher within them." When this is accomplished, our students have learned the meaning of "Union." At this point, the student is seriously dedicated to his or her personal practice. Then, the serious questions will come, because an advanced student of Yoga will experience self-realization and spiritual growth.

If the questions do not come to you, do not worry about it. If a teacher constantly chatters, with free advice, no one will listen, because it is free. Loving parents also make this mistake, because they want to protect their children, but free advice is often ignored. Yoga teachers are no different. Keep your explanations simple and show your
students the way - when they are ready.

© Copyright 2008 - Paul Jerard / Aura Publications

Paul Jerard, E-RYT 500, has written many books on the subject of Yoga. He is a co-owner and the Director of Yoga Teacher Training at: Aura Wellness Center, in Attleboro, MA.
http://www.aurawellnesscenter.com He has been a certified Master Yoga Teacher since 1995. To receive a Free Yoga e-Book: "Yoga in Practice," and a Free Yoga Newsletter, please visit: http://www.yoga-teacher-training.org/index.html

Article Source: http://EzineArticles.com/?expert=Paul_Jerard

What "The Secret" Did Not Teach You About Manifesting

By Daniel Hinds

Like most people you may have seen the secret movie and you may have gone to work at trying to manifest the things you desire. However despite all of your very best intentions you still have not been able to manifest the sort of things that you want.

Sure you may have seen some results but the really big things, the things which are closes to your heart have yet to come.

There is a real secret to manifesting what you want. This secret to manifesting is way bigger than the law of attraction, way bigger than speaking mindless affirmations and even grander than visualization.

Even the teachers of the secret do not tell you the entire story of manifesting. And, that is understandable. Think of entering grade school for the very first time and before you have learned basic arithmetic your teachers are plowing ahead to teach you calculus.

If you were taught calculus before you learned the basics then you may never learn math at all. As a matter of fact you may even grown to hate math entirely.

The same is true of manifesting and the law of attraction. These teachings have been around for quite sometime and they are certainly not a secret. The teachings were studied by people who took the time to learn and understand each and every step.

Most people these days don't want to take the time to learn each detail. Most people would rather scan the net for tid bits of information and try to put it tighter, then they become very frustrated when they do not see the results they expect.

What the secret teachers did not tell you cannot be found plastered on the internet. The secret to true success with anything requires that you have a huge appetite and a burning desire to understand and master it fully and deeply.

True manifesting has many delicious secrets but you must have the desire to understand it fully and go beyond the very basics.

Have you noticed one thing about very successful people? They never stop learning. They always have the burning desire to go beyond their regular understanding to the peek and they will do just about anything to master whatever it is they truly desire.

Do you know that there are ancient techniques that can increase your manifesting intentions and attract what you want even faster than ever? Visit http://www.cosmic-wealth.com to learn more about these secrets teachings. Daniel Hinds is the author of the powerful ebook Magic Money.

Article Source: http://EzineArticles.com/?expert=Daniel_Hinds

Simple Techniques To Teach Your Dog To Walk Politely By Your Side

By Eric Letendre

A lot of people have problems with their dogs pulling on leash. Pulling starts from a very young age. Learning what triggers the pulling and how to change it can make leash walking with your dog more enjoyable and fun.

Dogs naturally pull on leash for several reasons. First, it works, period! Your dog learns at a very early age that if they hit the end of the leash and start leaning and pulling, they will make forward progress. The dog is trying to close the distance between themselves and whatever they are looking at - and the leash is restricting that.

Since most dogs can cover distance a lot quicker than humans can, they will pull to the point of gasping for breath. Second, dogs have what is called opposition reflex. As soon as they feel pressure on their necks or chests they reflexively lean into it. So, given this information, it is vital to begin anti-pulling exercises at a very young age.

To begin, you must be able to stand still with your dog on leash without him pulling and straining at the end of it. Have some treats ready to reward your dog when the leash becomes slack. Put the loop of the leash on your thumb and hold the remainder of the leash in your free hand.

As your dog pulls and the leash becomes tight, pull your dog back into you while giving him a verbal correction. Some dogs will run and hit the end of the leash again. You must persevere and pull your dog back into you with a verbal correction as many times as it takes.

Sooner or later he will give up and stay near you with the loose leash. At this moment, heavily reward your dog with food, praise, and pats. Once he is standing consistently with you on a loose leash you can begin your walk.

When you begin your walk, start with the leash hanging loose. As you take a few steps forward, your dog will most likely run ahead and hit the end of the leash. As soon as he takes off and the leash becomes tight, immediately change directions and make a full turn. Your dog will have no choice but to follow suit.

As your dog catches up to you, be ready to heavily reinforce him. Proceed forward and be prepared to turn around again. Try to focus on the times when your dog is walking next to you and the leash is loose rather than on times when the leash is tight.

If you allow your dog to make forward progress when the leash is tight, then you are training your dog to pull. Your dog needs to learn that there will be no forward progress made when the leash is tight. In fact, they will lose distance by making the turn.

Another exercise to try is the red light/green light game. Begin walking forward with your dog.
When he hits the end of the leash and begins pulling, immediately put on the brakes. Your dog will most likely fight this and start bucking, but it is important to remain rigid and become a statue.

Do not look at your dog, talk to your dog, or move forward again. You will probably need to put the red light on often in the beginning, but with repetition and consistency, your dog will begin to see the picture; leash is tight no distance is covered, leash is loose forward progress is made. Yippee!

Yet another exercise is to form circles. Begin walking forward with your dog on a loose leash. If your dog runs forward and hits the end of the leash, pull him back in close to your body and spin in a circle once or twice.

Stop and begin to walk forward again. This will momentarily disorient your dog long enough for you to make several steps with a loose leash. At this point you can heavily reward him with a few special treats coupled with heavy praise. Remember that the key to training is information and communication from you.

There are hand and arm saving pieces of equipment on the market for adult dogs with extreme pulling habits. Gentle Leader Head Collars or Haltis are great tools to use until your dog is trained. However, dogs do not generalize well, and if you use a special collar to walk your dog, once you take the collar off the no-pull effect will not filter over. The best prevention is to train your dog on his flat buckle collar and reinforce loose leash walking. Good Luck!

Eric Letendre, author of The Amazing Dog Training Man, invites you to visit http://www.amazingdogtrainingman.com for free dog training video clips, tips, articles, and advice. Free Newsletter.