Local author releases book to help parents ‘Make Your Kids Millionaires’
SOUTH LAKE TAHOE, Calif. — A financial expert and New York Times bestselling author Loral Langemeier has dedicated the last 25 years of her life to helping everyday people become millionaires by teaching them real world wealth building skills.
She is the CEO and Founder of Live Out Loud, Inc., a multinational organization in which she has created. She has a three to five year strategy that she says helps generate millions for the “Average Jill and Joe.” Her goal is to focus on the skills and talents of everyday people and inspire them to make money doing what they love.
Langemeier has now set her sights on kids in her new book, “Make Your Kids Millionaires,” launched in May of this year.
In the book, parents will learn how to get their kids financially interested, so that there is an open and honest communication between parent and child on the topic of money. Parents will find the book filled with activities and exercises that will help them guide conversations with their kids about money that are specific to their child’s age bracket from birth to 21.
Langemeier says her goal in writing the book is to bring the money conversation and a financial literate business responsible conversation into your household.
“The parents are the ones lacking in the conversation, and so they don’t know how to bring it into the household. My kids were both 4-years-old when they started their first companies,” Langemeier said.
Her son, Logan’s first business was a smoothie stand, and her daughter, Tristin, made paper wallets that could fit hundreds of bills.
Langemeier says, “Get your kids involved in things. Don’t ever say this in your household, ‘You can’t afford it.’ Switch that out with, ‘Well, how can we afford it? What can we do?’”
Part one of Langemeier’s new book, “Make Your Kids Millionaires,” shows parents how to help their kids build financial knowledge by teaching them the basics. Part two of the book is broken down into chapters that are age-based, with sections within each chapter that covers different financial topics such as setting up a bank account, good debt versus bad debt, and what are balance sheets and income statements.
Langemeier says that kids love to make money, so parents should ask them what their financial goals are, and then steer them toward achieving their goals. She says to show them how to write a check and to balance their checking accounts. Show them how to use a credit card correctly so that they don’t accrue credit card debt in their 20’s and 30’s.
“If you’re a business owner you should employ your kids when they’re born. Get your kids involved in the business,” Langemeier said.
From the time her kids were very young, Langemeier took them on business trips with her. She said they would work the booth at seminars and lectures she would give.
Langemeier believes that parents can raise very responsible, consequence-driven kids by giving them the tools at the right age.
“It has to be parent or guardian led,” she says.
For more information on Langemeier and her Millionaire Maker books, visit her website http://www.lorallangemeier.com. Her books are available for purchase online or at Barnes and Noble stores.
Support Local Journalism
Support Local Journalism
Readers around the Lake Tahoe Basin and beyond make the Tahoe Tribune's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Your donation will help us continue to cover COVID-19 and our other vital local news.