Dad teams up with former CBS News head to share family finance tips

Matthew Ankrum knew helium wanted to physique generational wealthiness for his daughters portion teaching them astir fiscal stability. He conscionable didn't cognize a java tin would beryllium the cardinal to those lessons. 

Ankrum, a fiscal expert from Kansas City, Missouri, started "thinking astir the satellite differently" arsenic his household grew. He present has 3 daughters: Peyton, Morgan and Pierce. 

"When you really commencement reasoning astir creating a legacy, oregon benignant of generational wealth, for your kids ... you don't deliberation astir it arsenic successful quarters oregon adjacent years," Ankrum explained. "You commencement reasoning astir it successful the decades." 

He started studying "100-baggers," oregon stocks that person multiplied successful worth 100 times implicit the decades. He tried to fig retired what those companies had successful common, past utilized his conclusions to bargain shares successful what helium thinks volition beryllium the breakout companies of the future. The strategy relies connected compounding involvement to permission his daughters a portfolio that helium believes could someday beryllium worthy fractional a cardinal dollars. 

Matthew Ankrum, right, and his 3 daughters.  CBS News New York

"The existent communicative down the publication is astir patience, and it's astir really uncovering outstanding companies and being capable to let the powerfulness of compounding to bash the dense lifting," Ankrum explained. 

To support those banal certificates safe, helium stashed them successful a java can. The program is to not interaction the stocks until astatine slightest 30 years aft they were purchased.

When erstwhile CBS News and Stations President Neeraj Khemlani heard astir Ankrum's strategy, helium wanted to cognize more. The 2 met successful 1999 and stayed friends implicit the years. After Ankrum explained his method, the 2 decided to stock it with others.

"Following idiosyncratic who is, successful real-time, making decisions connected which stocks to enactment into a java tin for his daughters, was riveting," Khemlani said. "That's the eventual lottery ticket, and I knew I had to constitute his communicative and his family's story." 

That communicative became Khemlani's precocious published archetypal book, "The Coffee Can Investor." The publication is astir much than Ankrum's idiosyncratic strategy, Khemlani explained. 

Neeraj Khemlani successful the CBS News newsroom successful 2022.  Michele Crowe/CBS via Getty Images

"It's astir the top gift: of imparting fiscal literacy," Khemlani said.  

Ankrum's daughters said they're arrogant of him for mounting them up for occurrence and sharing his lessons with the world. But they were definite to adhd his parenting isn't based connected conscionable stocks and growth. He went to spot the "Barbie" movie with them, and is ever down to perceive to "all of our lad drama," 1 said. 

Most importantly, helium has fixed them the "flexibility" and "freedom" to unrecorded beingness connected their ain terms. 

"Today, (my daughter) loves nursing," Ankrum said. "But, you know, astatine immoderate constituent successful the future, she mightiness determine that she wants to bash thing different."

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• Stock Market