Realizing that childhood is the perfect time to equip your children with skills they will use later in life is of utmost importance in a child’s upbringing because a solid foundation of general skills or “street smarts” will prepare them for prospect endeavors. Scientists have already illustrated that the best time to learn a second language is as a child because the child's brain is constantly developing and evolving new stimuli are presented. The same is true with any type of skill. We need only to look at Tiger Woods as proof of this assertion. Tiger makes one of the hardest games in the world look easy because he learned it at such a young age. His father, the late Earl Woods, never underestimated his son's potential to learn early and as a result Tiger has achieved great success.
The Egyptian parents understand just as Earl Woods did, that you must invest in your child. Many of you read this monthly column hoping to gain new insights on how to build wealth that you can pass on to the next generation. However, passing along knowledge of how to build wealth is much more important than passing on wealth itself. We all know the old adage: "Give a man to fish and you’ll feed him for a day; teach a man to fish you’ll have fed him for a lifetime." It certainly applies here. You can leave your children millions of dollars, but if they lack the vital understanding of how to invest and stretch that money they will blow it immediately just as millions of Americans do everyday. Imagine your life today if you had had the arsenal of knowledge concerning money and other things you know today when you were 10 years old. When parents invest in their children in the early stages of their life, they pass on generational wealth which teaches them how to manage credit cards and keep their credit scores high, unlike lottery winners who frivolously squander their money away. Imagine the financial confidence you would covet and the prosperity that would ensure. The fact remains that if you want your children to have that advantage, you must engage them at an early age.
After witnessing the interaction of Egyptian parents with their children and remembering how my parents provided us with strong, fortified roots of business, I reminisce about how their lessons brought us together, and how much I enjoyed bonding with them. Perhaps that was more important than the many lessons I learned. Today we live in a society where parents, guardians and caretakers work an enormous amount of hours and hardly ever have time to spend with their children. In the end the children are provided for but they have no true connection to them or the knowledge and wisdom resource. Taking your children with you while you handle everyday tasks will create bonding time that will inevitably bring your family closer together and perpetuate your child’s intellectual capacity of crucial yet everyday skills. We must always remember that a family’s love toward one another is far greater than any exorbitant amount of money.