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GOBankingRates

Here’s what parents can do to help their kids grow up to be millionaires

GOBankingRates
Summary
Nutrition label

75% Informative

According to the 2024 UBS Global Wealth Report , the U.S. is home to more than 22 million millionaires.

Nearly 8 in 10 American millionaires are self-made, according to Northwestern Mutual’s 2024 Planning & Progress Study.

The path to wealth is paved with financial literacy — and the sooner parents start laying the foundation.

VR Score

73

Informative language

74

Neutral language

49

Article tone

informal

Language

English

Language complexity

53

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

detected

Known propaganda techniques

not detected

Time-value

long-living

External references

20

https://www.gobankingrates.com/money/wealth/how-to-build-wealth-fast/?hyperlink_type=manual&utm_term=incontent_link_1&utm_campaign=1290554&utm_source=yahoo.com&utm_content=1&utm_medium=rsshttps://www.gobankingrates.com/money/wealth/steps-a-self-made-millionaire-took-to-get-rich-on-an-average-salary/?hyperlink_type=manual&utm_term=related_link_3&utm_campaign=1290554&utm_source=yahoo.com&utm_content=6&utm_medium=rsshttps://www.gobankingrates.com/low-risk-reliable-returns-2481609/?hyperlink_type=manual&utm_term=morefrom_link_1&utm_campaign=1290554&utm_source=yahoo.com&utm_content=9&utm_medium=rsshttps://www.gobankingrates.com/savings-challenge-perfect-way-prepare-for-new-year-2517871/?hyperlink_type=manual&utm_term=morefrom_link_5&utm_campaign=1290554&utm_source=yahoo.com&utm_content=13&utm_medium=rsshttps://www.gobankingrates.com/money/financial-planning/simple-ways-teach-kids-properly-manage-their-money/?hyperlink_type=manual&utm_term=incontent_link_2&utm_campaign=1290554&utm_source=yahoo.com&utm_content=4&utm_medium=rsshttps://www.gobankingrates.com/money/financial-planning/financial-chores-tackle-daily-weekly-monthly/?hyperlink_type=dynamic&utm_term=incontent_link_5&utm_campaign=1290554&utm_source=yahoo.com&utm_content=8&utm_medium=rsshttps://www.the-ifw.com/kids-and-money/parenting-teaching-kids-about-money/https://www.npr.org/2021/07/27/1021262899/finance-money-tips-kids-families-conversationshttps://www.forbes.com/councils/forbesfinancecouncil/2022/02/01/four-tips-to-raise-financially-responsible-children/https://www.ubs.com/us/en/wealth-management/insights/global-wealth-report.htmlhttps://www.gobankingrates.com/genius-wealthy-people-know-2058491/?hyperlink_type=manual&utm_term=morefrom_link_4&utm_campaign=1290554&utm_source=yahoo.com&utm_content=12&utm_medium=rsshttps://news.northwesternmutual.com/planning-and-progress-study-2024https://www.gobankingrates.com/saving-money/budgeting/how-to-budget-to-pay-off-debt/?hyperlink_type=dynamic&utm_term=incontent_link_4&utm_campaign=1290554&utm_source=yahoo.com&utm_content=7&utm_medium=rsshttps://www.gobankingrates.com/money/wealth/things-to-do-help-kids-become-millionaires-when-they-grow-up/?utm_term=source_link&utm_campaign=1290554&utm_source=yahoo.com&utm_content=15&utm_medium=rsshttps://www.gobankingrates.com/retirement/planning/retired-boomer-things-i-wish-i-had-done-differently-to-better-prepare-for-retirement-longevity/?hyperlink_type=manual&utm_term=morefrom_link_3&utm_campaign=1290554&utm_source=yahoo.com&utm_content=11&utm_medium=rsshttps://www.gobankingrates.com/money/wealth/i-am-a-financial-expert-things-wealthy-people-do-not-waste-money-on/?hyperlink_type=manual&utm_term=related_link_1&utm_campaign=1290554&utm_source=yahoo.com&utm_content=2&utm_medium=rsshttps://www.gobankingrates.com/yahoo-retire-rich-suze-orman-2520406/?utm_term=media_link&costid=863&utm_campaign=1290554&utm_source=yahoo.com&utm_content=5&utm_medium=rsshttps://www.gobankingrates.com?utm_term=bottom_link&utm_campaign=1290554&utm_source=yahoo.com&utm_content=14&utm_medium=rsshttps://blog.carnegieinvest.com/raising-financially-responsible-childrenhttps://www.gobankingrates.com/genius-wealthy-people-know-2058491/?hyperlink_type=manual&utm_term=related_link_2&utm_campaign=1290554&utm_source=yahoo.com&utm_content=3&utm_medium=rss

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