My Kids Are Gonna Be Rich: Your Kids Too!

Elizabeth Levin is a professor of psychology at Laurentian University.

This little book is designed to help young parents instil good money
habits in their children. Its central premise is that financial
independence is achievable if only one starts to save early and
regularly. The book contains no sophisticated investment strategies; it
merely extols the benefits of compound interest.

In several instances, readers are advised to consult with their
financial planner. It is hard to believe that anyone who has a financial
planner would not already understand the very basic concepts presented
in this book. The fact that the authors promote a particular financial
planning organization may make some readers uneasy. Mutual funds and
RRSPs are mentioned, but the reader is referred to a financial planner
for more details. Regrettably, there is no mention of RESPs, an
important plan for saving for a child’s education.

The book is readable in a personalized, chatty sort of way, which many
or may not be appealing. There are some editorial errors, the most
serious having to do with misplaced charts. If you want to awaken a
novice investor to the virtues of saving, this book will do the trick;
if you are looking for more advanced financial advice, keep looking.