Getting Kids Hooked on Stocks
This 1995 Kiplinger’s article pretty much sums it up: Our firm’s founder Bart Boyer was adamant on getting his four kids hooked on stocks.
His two youngest children fondly remember when their father would take us to Denny’s where they would discuss how Tracy owned stock in Heinz and thus she would request that the waiter no longer serves her Hunts ketchup. He would mandate that his family watch The Nightly Business Report every evening at 7 p.m. while eating family dinner. Instead of a monthly allowance, his children would receive dividends from their stocks, which quickly taught them the tumultuous ups and downs of company dividends and the difficulty of budgeting on a fluid income!
Little did they know then, but their mom and dad were investing for their future and staking a B-I-G bet. In 1980 they moved to a new state where they didn’t know anyone with a newborn baby. Five years later, they had four children (a happy occurrence of twins aka Tracy and Travis when they thought, “ah heck why not have a 3rd?!”) and their dad had made a go at investing. However, the timing couldn’t have been worse with the 1980-1982 double recession, 17 percent home mortgage interest rate, a few good years, then sadly the 1987 stock market collapse. Despite the hard times, he was a true entrepreneur and stuck it through. 40 years later, his employee-and-family-owned fee-only financial management company now manages more than $3.06 billion in assets with six office locations across North Carolina (as of Sept. 30, 2020).
In 1993 the Boyer family was invited to speak on Good Morning America about how to get children interested in investing. Travis and Tracy stayed in the green room with mom while the older children went on air. Too bad they thought we were too young to speak at the time … look at us now!
Travis joined the family business and sponsor of this website, Parsec Financial, in 2012 and is a CFA charterholder and a CERTIFIED FINANCIAL PLANNER™ practitioner. Tracy joined Parsec in 2019 as head of marketing and has her MBA/MSIS.
The Boyer twins are part of a robust team of 65 Parsec employees (including financial advisors, financial planners, investment managers, client service specialists, operations and support staff) across North Carolina.
In line with our firm’s dedication of investing in the next generation, we are providing a wealth of starter materials for those in their 20s and 30s who are trying to get a handle on their finances. It’s difficult to figure out how to juggle school loans with a mortgage and ongoing monthly bills (sometimes it’s no fun growing up!).
The topics are not exciting and sometimes it’s super confusing, so we tried our best to simplify it and hand-hold you through it. We applaud you for taking the time to invest in your future (and that of your family’s). We feel as though this site is our way of paying it forward, so thank you for spending time with us and GOOD LUCK!