A nanny turned author proposes a different take on trust funds for children that both rich and poor parents can afford. It's understandable that money does matters in today's society but for a child, the most important investment a parent can give is love and care.
The New York Times writes about the parenting style of Jacalyn S. Burke, author of "The Nanny Time Bomb: Navigating the Crisis in Child Care," which suggests for parents to invest on an emotional trust fund for their children. If one looks at childrearing in financial terms, there are stocks, bonds, investments, properties, trustees, returns and the like to consider in a child's growing up stage that becomes an integral part of his/her future.
Following Burke's parenting model, here are four insights on how parents can start an emotional trust fund for their children. Like in a tight stock market, parents should carefully make choices that would help their children's emotional trust fund grow.
1. Selecting Stocks
For Burke, the stocks in a child's life is his/her nanny. When parents are busy, children are left with their nannies so it is important that parents select the best stocks available in the market.
Since the children are exposed to their nannies, the arrangement consequently gives nannies an impact on the children's development. It's important that the parents invest time to select the right person and pay the right amount for the nanny, so that the he/she will perform his/her very best.
2. Forming Bonds
It is vital for parents to do activities with their kids that are outside their school subjects and activities. According to Burke, this enriches kids with values that they won't learn from school. A simple walk in the neigborhood or baking cookies together form bonds between the parent and the child.
3. Investing Time
The cash that parents would invest on the emotional trust fund is time, according to Burke. The child does not long for anything but for his/her parent's time.
"Cash is switching your phone off and doing things with your children. What I hear from children is they just want down time with their parents. I can't tell you how many extremely wealthy children say 'I just want to play ball with Dad,'" Burke says as quoted by New York Times.
As per Success, a study has found that people who give more importance to time than money-making end up happier. It also highlights the value of using time fruitfully which includes spending it with family and friends.
4. Strengthening Relationship Of Trustees And Beneficiaries
In an emotional trust fund, Burke says that the trustees are the parents and the beneficiaries are the children. It is a must that the parents and children have a constant open communication that would allow both parties to nourish their relationship.
Burke has been around children as a nanny and her observations of their behavior are reflected in her book and life's work. As per Burke's personal site, she is the founder and CEO of Baby Does NYC that provides events, products, and services for parents of 0 to 2-year-old children. Her book, The Nanny Time Bomb, according to Good Reads, is a 2012 analysis of child care and helps parents select the best nannies they would leave their children with.
Isn't an emotional trust fund an interesting parenting investment to raise your kids with? Share your thoughts below on the Comments section and follow Parent Herald for more news and updates.
