How parents can teach their kids to start building wealth
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Entrepreneur
7 hours ago
- Entrepreneur
How Much Money You Need to Be Wealthy: Survey
Charles Schwab's 2025 Modern Wealth Survey has pinpointed the precise figure needed to be considered wealthy in the U.S. Quick, run and check your accounts to see if you have it: $2.3 million. That's down from last year's survey, which put the wealth tipping point at $2.5 million. The 2025 survey also found that to be "financially comfortable," respondents said you need to have $839,000 tucked away. Related: How to Build Wealth While Building a Business The survey took into account responses from over 2,000 adults aged 21-75 who live in the U.S., with some numbers averaged out by generation. Broken down by age, Gen Z had a lower threshold for wealth and comfort. How much is needed to be wealthy, according to different generations Gen Z: $1.7 million Millennials: $2.1 million Gen X: $2.1 million Boomers: $2.8 million How much is needed to be comfortable Gen Z: $329,000 Millennials: $847,000 Gen X: $783,000 Boomers: $943,000 Related: What Is 'Doom Spending'? The Trend Takes a Toll on Personal Finances — and Members of This Generation Are Most at Risk. Going a little deeper, Schwab asked respondents to define what "wealthy" means to them. Here are the buckets where their answers landed: 45% "Happiness" 44% "Amount of money I have" 37% "Physical health" 32% "Mental health" 24% "Quality of my relationships" 24% "Life experiences" 20% "Accomplishments" 18% "Amount of free time" 17% "Material possessions" When asked if they fit their own categorizations of being wealthy or if they were on track to become wealthy, Gen Z led the pack with hopefulness, with 43% saying yes. On the other end of the spectrum, only 20% of Boomers believed that they were or ever would be in the wealthy category. Come on, Boomers, you can't give up now!
Yahoo
11 hours ago
- Yahoo
Motley Fool CEO Echoes Buffett: "The Best Time to Sell a Stock Is Never"
Holding on to shares of great companies for many years is a solid way to become rich. There are some good reasons to sell a stock, though, along with bad reasons. Day trading is a particularly bad idea. These 10 stocks could mint the next wave of millionaires › Billionaires and CEOs say the darnedest things. Billionaire and CEO Warren Buffett, for example, who has grown his company, Berkshire Hathaway, by an annual average of nearly 20% over close to 60 years, is credited with saying that "the best time to sell a stock is never." Motley Fool CEO Tom Gardner, in a recent talk, echoed Buffett's words, explaining that he, too, sees infrequent trading as a key to getting rich. Here's a look at what both have said on the matter. In his recent talk, Gardner offered five rules to follow for your first few years of investing -- if you want to get rich. One of his rules was to not day trade. Here's his relevant statement, paraphrased a bit: ... Warren Buffett turned $10,000 as a teenager into $100 billion in his lifetime by essentially saying the best time to sell a stock is never, that's how you're gonna make the most money. If you can find Costco early on and just hold it, you're going to become a millionaire. Day trading Costco, there's just a tragedy of epic proportions. This makes sense, if you think about it. The companies we know today that have grown like gangbusters have done so over decades. If you've been along for much of that ride -- even if you got in a lot later than you would have wanted -- you'll likely make a tidy profit. When Buffett says his favorite holding period is forever, that means he invests in stocks (or buys entire businesses) that are worthy of being held forever. He seeks high-quality companies with great growth prospects -- and has said "Never invest in a business you cannot understand." Buffett has shared other thoughts on selling, too: You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long, dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing. That quote alludes to how many of us often trade our stocks too often because we feel we need to be active investors, to do something. Instead, Buffett notes that it's OK to do nothing when there's nothing to be done. Buffett has also said "If you aren't willing to own a stock for 10 years, don't even think about owning it for 10 minutes." Having a long-term mindset is important if you want to build wealth over the long run. Despite all this good advice to be a long-term holder of great stocks, there are some good reasons to sell stocks. For example: Sell if you need the money now -- or expect to within a few years. It's best not to keep money you'll need in the next five (if not 10) years in stocks, as the market can be volatile over the short term. Sell if you don't understand the company. If you don't have a good handle on how exactly it makes its money and the challenges it faces, you could end up with unpleasant surprises one day. Sell if the thesis has changed. For example, maybe you bought into a company known for its capital-light online marketplace that generated fat profit margins. If it decides it's going to start manufacturing its offerings itself, that will likely shrink profit margins. You may no longer want to own it. Sell if the holding has grown so much that it's now a big portion of your portfolio. You don't want too many eggs in one basket, so consider rebalancing. Sell if the stock seems wildly overvalued, with a decent chance of retreating to a more reasonable level. (You might ignore this rule and still make money, though, if you plan to remain invested for many years.) Sell if you've found a much more compelling other investment. Conversely, here are some bad reasons for selling: You've just earned 50% on your investment, or perhaps 100%. Remember that by holding on for many years, your total gain could be 300% or 1,000%, or more. Go ahead and think through the merits of holding or selling first, though. You bought into the stock and it's been a month or a year and it hasn't grown much. Patience is very important for long-term stock investors. Great companies will sometimes experience lulls. Do some digging to make sure the company's health and growth potential remain intact. If so, hang on. You bought a stock and it dropped in value. Even good companies will see their stocks fall now and then, potentially sharply. Read up on the situation to determine whether the company is facing a temporary, fixable challenge or a big, long-lasting problem. As you go through your investing life, aim to be a long-term investor, hanging on to great stocks for long periods. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $410,385!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $39,857!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $695,481!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of July 7, 2025 Selena Maranjian has positions in Berkshire Hathaway and Costco Wholesale. The Motley Fool has positions in and recommends Berkshire Hathaway and Costco Wholesale. The Motley Fool has a disclosure policy. Motley Fool CEO Echoes Buffett: "The Best Time to Sell a Stock Is Never" was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
16 hours ago
- Yahoo
Mark Cuban Says His Children Struggle With the Downsides of His Wealth: 'Not That They Want To Be Poor, But It Sets An Expectation'
Billionaire entrepreneur Mark Cuban once shed light on the challenges of raising children amidst substantial wealth. He emphasized the significance of individual success and self-reliance. What Happened: Cuban, who boasts an estimated net worth of $5.7 billion, voiced his concerns about the expectations his wealth imposes on his children. These comments were made during a discussion with TikToker Bobbi Althoff on 'The Really Good Podcast.' Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — Cuban, a father to three children aged between 13 and 20, expressed that his wealth often leads to assumptions about his children. He aspires for his children to carve out their own paths and careers without being perpetually compared to him. 'Sometimes I think [the money is] the part they don't like,' Cuban said during the interaction. 'Not that they want to be poor, but it sets an expectation ... it's how other people see them.' Known for his entrepreneurial endeavors and investments, Cuban has always championed his children to achieve their own successes, rather than leaning on his reputation or wealth. He motivates his children to use their own money, earned from chores or jobs, for buying non-essential items. He also revealed that his 13-year-old son is treading his entrepreneurial path, selling candy bars to classmates and understanding business It Matters: Cuban's comments highlight the unique challenges faced by the children of wealthy individuals. The expectations set by their parents' success can often lead to undue pressure and scrutiny. Cuban's approach to parenting emphasizes the importance of self-reliance and individual success, values that he hopes will guide his children in their own journeys. His son's entrepreneurial endeavors indicate that Cuban's values are already having an impact, potentially shaping the next generation of business leaders. Read Next: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — And You Can Invest At Just $6.37/Share These five entrepreneurs are worth $223 billion – they all believe in one platform that offers a 7-9% target yield with monthly dividends Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Mark Cuban Says His Children Struggle With the Downsides of His Wealth: 'Not That They Want To Be Poor, But It Sets An Expectation' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
