How I will prepare my future daughters for success

Also published at: Substack

'@alexcrognale asks:

"My daughter was born 2 weeks ago. I’m NOT opening a 529 savings acct for her.

Here’s what I’m doing instead:

In addition to stacking bitcoin, we are opening a brokerage account that will serve as her primary savings vehicle. What would you buy to hold for the next 18 years?

We wanted an account that is flexible and would allow for various investments, no contribution limits and gave us control of the funds.

It’s in an account the parents and grandparents can easily contribute to, and our daughter will be able to access it later in life for a house, school, or whatever else the future has in store. What do you think is the best way to set your kid up for success?"

https://x.com/alexcrognale/status/1825896185959240092

Here are (some of) my suggestions.

First, a few caveats:

Comments, questions, suggestions, welcome!

What do you plan to do to ensure your children's success?


Money and Investing

At a minimum, I plan to provide a nest egg to provide for my daughters should I die before they're adults. Having achieved that, I'd also like to provide them with a save haven for them to return to, should they ever fall upon hard times.

So, in addition to a portfolio of traditional investment (ETF's, stocks, mutual funds), I plan to buy a small (~5 acre) farm in New Hampshire. New Hampshire has no income tax, no sales tax, and routinely scores high on quality of life surveys. (9) The Free State Project (@freestatenh) will help ensure that the state remains free.

I also plan to teach her how to:


Home Schooling and World Schooling

Government schools are, at best, a stultifying waste of time.(28) At worst, they're government indoctrination camps. (6) Therefore, I will strongly encourage her to seek out alternatives, such as:

When she's 12 or so, I plant to travel with a her to a wide variety of countries and stay for a month at time. A month will give her a taste of many different cultures and their practices.


Entrepreneurship

Although I intend to help her launch her life financially speaking, it's also important that she be able to create her own wealth. So I plan to help her:


Predator avoidance

Although most people are good-natured, 1-2% of the population are psychopaths, aka people who have no/few moral compunctions. (2) So I plan to teach her how to:


People skills

Learning how to attract and retain friends and lovers is one of the most important life skills. So I plan to teach her how to:


Physical health

Maintaining one's physical health is the foundation of a long, happy life. Therefore, I plan to teach her (and model) how to:


How to think

Intellectual pursuits have been an important part of my life--I hope they will be part of hers. Learning how to learn, how to distinguish between good and bad information is also a critical life skill.


Practical skills

Although intellectual skills are important, it's also important to know how to create in the physical world. So I plan to expose my daughters to a wide variety of trades, such as:

Although I don't expert her to master all of these skills, I want to her to at least try them, so that she can decide which she would like to pursue further.


Conclusion

Our children have their own minds, their own dreams and desires. Her values and goals will likely to differ from mine in important ways. But I hope that with the experiences and resources I can provide, my daughters will have a solid foundation for life satisfaction, no matter which dreams they decide to pursue.


References

  1. https://www.econlib.org/archives/2013/04/make_your_own_b.html

  2. https://www.telegraph.co.uk/books/non-fiction/spot-psychopath/

  3. https://thielfellowship.org/

  4. https://www.playingwithfire.co/

  5. https://www.mrmoneymustache.com/

  6. https://archerships.substack.com/p/children-of-the-state

  7. https://news.bitcoin.com/roger-vers-new-book-tops-amazons-new-releases-memoir-dives-deep-into-bitcoin-controversies/

  8. https://www.getmonero.org/resources/about/

  9. https://freecoast.org/2014/11/19/101-reasons-to-move-to-new-hampshire-the-official-list-from-the-new-documentary-film/

  10. https://afiodorov.github.io/2017/10/18/thoughts-on-the-seven-principles-for-making-marriage-work/

  11. https://salvadorbriggman.com/review-of-influence-the-psychology-of-persuasion/

  12. https://www.washingtonpost.com/news/wonk/wp/2016/02/16/when-to-stop-dating-and-settle-down-according-to-math/

  13. https://lorigottlieb.com/books/marry-him/

  14. https://kalebmckelvey.com/blog/book-notes-how-to-have-confidence-and-power-in-dealing-with-people/

  15. https://www.agirlandagun.org/review-gift-fear-survival-signals-protect-us-violence/

  16. https://x.com/mhp_guy/status/1825297602427924489

  17. https://mikerowe.com/videos/dirty-jobs/

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  19. https://www.cbass.com/VolumetricsRev.htm

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  22. https://www.self-directed.org/tp/teenage-liberation-handbook/

  23. https://www.nbtsc.org/

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  25. https://www.theunlikelyhomeschool.com/2023/07/apprenticeships.html

  26. https://www.sailingtotem.com/homeschooling

  27. https://info.wwoofusa.org/blog/2024/06/25/kidfriendlywwoofing/

  28. https://www.astralcodexten[REMOVE].com/p/your-book-review-how-children-fail

  29. https://www.amazon.com/Housebuilding-Children-Step-Step-Themselves/dp/0879513322

  30. https://www.ultimatepapermache.com/

  31. https://squarefootgardening.org/method/

  32. https://saltinmycoffee.com/how-to-raise-friendly-ducks/

  33. https://kidzinc.com.au/blogs/news/how-kapla-wooden-building-blocks-are-the-perfect-construction-toy

  34. https://shop4-h.org/products/small-engines-curriculum-1-crank-it-up?srsltid=AfmBOorwn_4ymKLT9aVdK5_eFfzogWTpycWQqwOszqE9vu2wxPSLgy-z

  35. https://thecardboardboatbook.com/

  36. https://chopzone.com/forum/index.php?pages/welding_basics/

  37. https://chopzone.com/

  38. https://www.thehomeschoolmom.com/homeschool-lesson-plans/cooking/

  39. https://www.youtube.com/show/SCHVrZwq249q_z_KXPogNtGw

  40. https://www.youtube.com/@Mythbusterstvshow

  41. https://bossclub.com/entrepreneurship-for-homeschool/

  42. https://erowid.org/general/about/about.shtml

  43. https://blogs.lse.ac.uk/impactofsocialsciences/2016/05/09/how-to-read-and-understand-a-scientific-paper-a-guide-for-non-scientists/

  44. https://forcesofhabit.com/how-we-know-what-isnt-so/

  45. https://plus.maths.org/content/tiger-isnt

  46. https://www.blogbyben.com/2023/01/review-gift-of-fear.html