Profitable Ideas: A Good Money Mindset for Kids, What Documents to Keep Where, and More

Weekly list of curated personal finance articles from around the web.

Ownership 101 — a wealth-building guide for young people (A Teachable Moment). This is a great mindset to cultivate in our kids. As I like to ask, “Why just buy what all the other kids buy when you could buy the companies that make what all the other kids buy?”

Before your child goes to college, complete these 6 important documents (Wall Street Journal). This is really important, and often overlooked.

Don’t overlook Roth IRAs for children and grandchildren (Think Advisor). Speaking of overlooking, this, too, should not be missed. If your kids have earned income (even mowing the lawn counts), get them started with a Roth.

What to put in a safety deposit box or home safe? (MoneyNing). What important papers to keep where.

How to save for a house: the comprehensive guide to home ownership (Of Dollars and Data). A very comprehensive (and realistic) guide, indeed.

How retirement plans should protect employees from themselves (Wall Street Journal). While these ideas are targeted toward plan administrators, individual investors can take some lessons here as well. How well do you understand what you’re investing in?

Best credit cards for extended warranty (Clark Howard). Before buying something expensive (or renting a car), be sure to check your card benefits. Some cards have eliminated certain benefits that you might think they still offer.

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