Zhou Wang Mba

5 basic facts about money I learned before I was 18 Zhou Wang Mba

Interactions create wealth I was lucky. This is the story of how I learned the basic facts about money from my Uncle Wei by age 18. Since I began at age 12 and I am not a genius, I think every child can get the basics in high school. I believe that the basics of money are as important as the basics of history, health, math, English, and the rest in high school. I learned about money early. I don't mean learning how to open a bank account or balance a checkbook. I mean how to use money to create a financial base so we can afford a car, house, business, and retirement without borrowing. I haven't had to worry about having money during my adult life. I was not born rich but learned to invest early. My uncle gave me lessons at each birthday. I listened to him because he had a nice car and nice clothes. He lived in the better part of town. And yet he was not that much older or smarter than I was. Yet, later, I found he was a multimillionaire. At my birthday for 12 years, Uncle Wei ("Way") gave me $25. He showed me 12 top stocks. He explained how a company made money: they sell things people need for more than the cost and pay me part of the profits. He explained that I could put the $25 in the bank or I could become an owner of these companies. I could learn about how they interacted with customers to make money by watching them closely. He tried to emphasize that it was the interaction (sales) that created profits-and I get part of them-a dividend. Leaving my money in the bank would not help me learn about money and how it can work for me. He stressed the interaction part because he said interactions are how the world creates new things. Those 5 basic facts about money provided security with 7 figure accounts. The process is even easier today thanks to changes in the financial industry. It just takes time.