Mellody: It is still stunning to me that stock market fundamentals—actually, even the basics of saving and investing—are not taught in schools. That means the onus lies on parents to teach their kids. One fun way to get started is to institute a family 401(k) plan.

Most people are familiar with company 401(k) plans, but what about taking that concept home? You can offer to match your kids’ savings…anywhere from a small percentage like 10% to 100% of what they save. This will create a new generation of savers…teaching our kids not to walk away from the same “free money” they’ll be offered later in the form of a company 401(k) plan.


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