Are You An Investing Role Model?

Are You An Investing Role Model?

by: Brendan Magee

Charles Barkley is known as a great basketball player and as an NBA television analyst. He's been quoted numerous times, but one of his most famous quotes is "I am not a role model." He was responding to questions about how he was behaving on the court and the impact his behavior could have on kids who look up to him. 

I ref basketball games, and have been doing it for the past 14 years. I have done high school, some college, as well as grade school level games. The other night I am officiating a game of seventh and eigth graders and early on in the game I called a foul against a kid who tried to block another players shot. There wasn't any doubt that he fouled him, plus it's just one foul and we were not at a critical point in the game.  So let's just play on.

The player reacted by turning around to me and screaming in my face for which he was assessed a technical foul. In behavior he very much resembled a lot of the pro athletes we see on television being paid millions of dollars  acting like a jack ass.

Kids don't know any better. They repeat behavior they see adults engage in, and this kid I am sure saw nothing wrong with how he reacted. Just about everyone, including his coach, disagreed with him. 

So pro athletes may not consider themselves role models, but their behavior absolutely has an impact on the behaviors and decisions kids make. 

I got to thinking people need good role models in all walks of life, investing especially. Whether you are the parent, uncle, etc. we want to pass down to our children a foundation for making good and prudent decisions with money.

So my question is this and I can't wait to read some of your responses. What are you doing to be a good investing role model for your children? 

Brendan Magee is the founder and president of Inevitable Wealth Coaching. To answer the question, submit a question or comment e-mail brendan@coachgee.com or call 610-446-4322.