A 28-year-old North Carolina father recently shared a viral clip in which his young son showed off his financial literacy.
On April 22, fitness instructor Kyren Gibson took to Twitter to post a two-minute video in which he quizzed his son, Kyng Lyons Gibson, on basic concepts like the meaning of assets and the definition of a credit report.
“Kyng, there’s a lot of suckas out here with their money,” Gibson tells the boy. “And you can’t be no sucka out here with your money.”
Kyng promptly answers back, telling his father to ask him questions. When Gibson asks what assets are, the child says, “Assets are things that bring money to your bank account.”
Gibson proceeds to test his son’s understanding of liabilities, entrepreneurship, owning stocks, real estate investment, the homeowner association, equities and a credit report. The footage ends with the father’s reminder that his son should always pay off his debts.
“We don’t never owe somebody ’cause that ain’t what suckas do. Period,” Gibson says.
The clip has since been retweeted more than 2,000 times and received nearly 300 comments.
“How do u do it man? Your teaching method MUST be solid,” one person tweeted in response. “Can u share? I got a little one.”
“Most of you are impressed with the child; I’m most impressed with the dad,” another added. “Whatever method you are using is clearly working. Fantastic job. Hope you are a teacher. More kids should learn life skills like this.”
“THANK YOU for making sure your son has the tools he needs in this life!” a third wrote. “My husband and I are trying to do the same with our 2 small boys! Listening to you and your baby is inspirational! Keep up the excellent job!”
In an interview with Fox News, Gibson, whose relatives own small businesses, said he wanted to make sure he prepared Kyng for success.
“I want him to know the actual words, and it’s not a foreign language,” the father said. “I’m going to teach my son everything I can possibly teach him now.”
The young boy told Fox News that he wants to either be president or a firefighter when he grows up because he wants “to inspire people and make people happy.”
According to a report cited by the Financial Educators Council, just 16 percent of Americans between the ages of 18 and 26 said they were optimistic about their financial future.
“It is ironic that, while the U.S. is regarded throughout the world as a financial superpower, many of its citizens are completely ignorant when it comes to managing their money and planning for the future,” the organization notes.
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