Teaching Kids About Passive Income

August 6th, 2007 | stacey | Financial Freedom, Financial Independence, Passive Income, Passive Income Opportunity

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While adults are still trying to figure out the idea behind passive income, kids are learning about earning passive income at Palomar College. Passive income ideas and the concept of earning money through passive income opportunities is being presented to children so they can plan for financial freedom in their future.

A Money Camp at Palomar College taught 30 local students from grades 5 to 8 about becoming financially independent as adults in July. The camp was so popular that another session will be held this month.

According to Teri Safranek the director of Workforce and Community Development at Palomar College, “The Money Camp curriculum is very interactive, engaging the students in the learning process. One of the highlights of July’s camp was guest speaker and money expert George Chamberlin, who has agreed to come back and speak at the next Money Camp.”

Safranek further says that the students played a game similar to Robert Kiyasaki’s “Cash Flow” by going around a room to pay bills and buy assets using a pseudo paycheck. She reports, ““When they hear the payday theme music they jump out of their chairs and rush up to the instructors to get paid; then, they track their income and expenses and watch their assets grow. The goal of the game is to receive enough passive income from their assets so that they can choose to work or just live off their passive income.”

Although such a camp may not yet exist in your neighborhood, it’s never too early to discuss passive income and its advantages with your children to give them a greater vision for financial freedom in their future.