Step 1: Start Young
This may be obvious, but is too often overlooked. Children are never too young to start saving for their future.
You could start a savings and/or investing account in their name(s) as soon as they have their birth documents.
Ask friends and relatives to contribute to this account instead of buying gifts. Or, they can buy savings bonds, certificates of deposits, stocks, or any other investment vehicle of their choice.
Teach your kids how to check stock prices and track their investments. Make it fun. Choose rewards when new highs are reached… Teach them that there will be ups and downs, and that temporary drops are not a reason to sell or give up.