More than one path to success

Pity the poor high school student. They have parents and teachers pushing them to get good grades to get into college, thinking they need to do so in order to be a success. Then they have all the 'pressures” of being a teenager and all the temptations to do what their peers are doing.

They have parents who are debating whether to save money for retirement or to spend it on paying for their college education. They have grandparents and great aunts and uncles who want to help them grow up and be successful - whatever they think this means.

I have a suggestion:

' First, adults should let these teenagers remain kids and enjoy their youth. Advise them to avoid things like drugs and alcohol (schools do this, too, so they get a double whammy) and show them that you really love them (they won't like the hugs at first, but soon will).

' Next, set up a fund for educational purpose - for whatever they eventually want to do.

Here's what we did:

My wife and I set up a small brokerage account with $5,000. I asked each of my five grandchildren, the oldest a junior in high school and the youngest in 6th grade, what companies they thought would be successful and that they would like to invest in for the future. They all had some wild ideas.

I chose to buy two shares in one of the companies that each had selected. This way they could follow a stock and see if their decision was a good one - by learning to read financial reports (which have a lot of words in them - not just numbers).

My wife (my partner for more than 47 years) said, 'Pick a mutual fund as kids aren't old or wise enough to make investment decisions.” So I put half of our investment ($2,500) into a mutual fund she thought would do well. I chose where to invest the balance - Berkshire Hathaway - as I'd hope in the future they'd look at some of Mr. Warren Buffett's philosophy of investing.

The key is how and when our grandkids can take out their share (20 percent each).

We told our grandchildren they cannot take any partial or complete withdrawal of their investment until he or she has met one of the following conditions:

1. Successfully completed the first year of college or university and obtaining sophomore standing

2. Successfully completed one year of apprenticeship training

3. Successfully completed any other full-time training schooling, like beauty school, barber school, etc.

4. Successfully completed basic training in any branch of the U.S. military

5. Successfully held a full-time job for two years with one employer

6. Is married to the same person for two years

This is the hopscotch game our kids can now enjoy - we want them to be happy and successful but don't dictate that there is only one way to do so (college). Initially we must support them with our love.

Now they don't have to buy the old folks' Kool-Aid that says college is the only way to success and a good life, and they get a reward from us old folks no matter what they do!

' Jim Williams, of Cedar Rapids, was active in international business as a chair of the old International Trade Bureau at the Chamber of Commerce and then as a board member of the International Traders of Iowa. He owns the consulting firm SARULING, LLC.