• Parents who have retired early or hit financial independence are teaching their children finances.
• Parents said their children are investing, opening retirement accounts, and starting businesses.
• The FIRE movement emphasizes financial literacy and early retirement through careful investing.

At 9 years old, Ramat Oyetunji's daughter made money cleaning friends' and teachers' cars in her neighborhood, put her savings into a stock portfolio, and co-published a kid's book on money with her mom.

"If we can start our kids young, then that's a great way to pass down that financial literacy and generational wealth," said Oyetunji, 48, who retired at 44.

Oyetunji is one of many parents who have embraced the Financial Independence, Retirement Early (FIRE) movement over the last decade. The movement, part of the broader Financial Independence movement, stresses principles like paying off debt, long-term investing, and building passive income streams, all in hopes of retiring from a 9-to-5 job while pursuing passions like travel or financial coaching.

While much of the movement's emphasis falls on amassing enough to retire early, some principles extend to the next generation. Half a dozen parents told Business Insider they wanted their children to be more financially savvy than they were, teaching them how to invest, budget, and delay gratification.

Some said because managing finances is rarely taught in school, they wanted their children to buck the trend and recognize the advantage of starting early.

However, some parents are split on how to best prepare their children for the financial world. Some said teaching their children financial advice early would be key to their success, though they weren't sure how far to go without taking the fun out of childhood.

Another fear is that because they retired early or work part-time, their children may lack a model for working hard.

According to experts, simplicity wins out: Susan Hirshman, director of wealth management for Schwab Wealth Advisory, advised parents to introduce money lessons through "simple, practical ways," such as allowance, budgeting, and goal setting.

"The most effective lessons often come from daily life — whether it's setting a savings goal for a concert ticket, comparing prices while shopping, or helping plan a family vacation activities based on a specified dollar and time budget," Hirshman told BI. "These hands-on experiences build confidence and set the stage for smart financial decisions down the road."

Starting their children young

Oyetunji grew up in Nigeria and moved to the US at 20 to finish her studies in mechanical engineering. She started her career working on offshore oil rigs before transitioning to working as a process engineer, vaccine manufacturer, and closing out her career as a quality director at a chemical company. Along the way, she adopted principles of the FIRE movement.

Oyetunji, who lives outside Philadelphia, retired at 44 with a seven-figure net worth. In her spare time, she continued building her company The FI Woman LLC, which she started in 2015, and wrote books on financial planning. She said her early retirement has allowed her to spend more time with her family and community and teach her daughter financial literacy.

Oyetunji found that the most effective way to teach her daughter is through daily tasks. For example, her daughter plays Minecraft and Roblox, so Oyetunji suggested she buy shares in the games' publishers alongside other blue chip companies to understand how stocks are connected to the real world. She also gives her an allowance to help her understand budgeting.

Brennan Schlagbaum's 1- and 3-year-old daughters are too young to start buying shares in companies, but he's started investing on their behalf. The self-made millionaire, who quit his day job to run a financial literacy platform full-time, said they both have a 529 plan, a brokerage account, and a Roth IRA.

He and his wife Erin opened a 529 plan, meant for education expenses, for their daughters before they were even born. The Dallas-based parents contribute about $250 a month, which they settled on by working backward from their goal: to cover 60% of the cost of an in-state, public university.

"They're required to handle the rest, whether it be a scholarship or paying their way," said Schlagbaum. "We want them to have a role. They're still going to contribute and understand its relevance."

Hirshman said parents should ask themselves if they can afford financing college for their children without losing track of their financial goals, then determine how they should encourage financial responsibility in their children.

"It is so important to understand that a person's relationship to money and wealth starts with their experiences in childhood," Hirshman said. "Teaching children about money shouldn't be about placing pressure on them — it's about equipping them with tools to make confident, informed choices as they grow."

They also contribute about $250 a month to the two brokerage accounts that are earmarked for each daughter. Schlagbaum said they plan to gift them that money in their 20s when they start looking for houses or opening a business.

As for the Roth IRA, a retirement-specific account, the account holder must have earned income to contribute. Schlagbaum contributes any money his daughters earn from baby modeling into their Roths, he said, to "get that compound interest rolling at a very young age."

In the meantime, he's starting to familiarize them with investing terms.

"Recently I sat them down and I was talking to them about what we're investing in my solo 401(k)," he said. "Obviously, they had no idea. But it was just to introduce them to the subject."

Teaching by example

For some FIRE parents, demonstrating techniques for financial success is more powerful than teaching their children about advanced economics.

Cha'Lea Stafford, who quit her sales job to pursue a more entrepreneurial career, didn't learn about personal finance growing up.

"I was born into a world where survival came first," said the podcast host and online course creator. "My family arrived in Georgia with nothing. We were homeless, living in a shed behind the farmers market where we sold produce."

Her two sons, 11 and 17, are both entrepreneurs. They first learned about business basics, and she encouraged her oldest to start a lemonade stand. Her youngest, a toddler at the time, observed, wanting "nothing more than to be like his big brother," she said, and started his own entrepreneurial career.

His first venture was selling books to neighbors out of a red wagon. He's also done mailbox makeovers for neighbors and created an online course to teach other kids how to make their first $500.

"My sons now understand money in ways I never did at their age," said Stafford, who is saving and investing aggressively to hit financial independence. "They invest. They create as budding entrepreneurs. They see wealth as a tool, not just a number."

Susan Cesarini, 57, has made it one of her goals to teach her grandchildren to know the value of a dollar.

Cesarini ran a cat grooming business before retiring at 50, though she unretired during the pandemic after feeling she lost her sense of purpose. Despite retiring with a seven-figure net worth, she restarted her business at half the size and set boundaries on when she works.

Cesarini said she didn't have the time to educate her children on financial advice, as she worked multiple jobs as a single mom. Instead, her children followed her lead and lived frugally.

Cesarini is now guiding her grandchildren more directly. She's taught her 12-year-old grandson about compounding, putting your money to work by investing, and the difference between a "need" and a "want." She's taken her grandchildren to thrift stores so they know how to look for cheaper options and she encourages them to fix things on their own instead of hiring someone. She used her own property, which they painted with her, as an example.

"Seeing me work hard, seeing his mom and dad work hard, I think he wants to work hard and learn new things," Cesarini said. "I definitely see property flipping in his future."

JADON SANCHO spared Chelsea’s blushes as Enzo Maresca’s side came from behind to draw.

Relegation-threatened Ipswich went 2-0 up after 31 minutes with Chelsea flat throughout the first half.

They kickstarted into life immediately after the break when Axel Tuanzebe bundled a Noni Madueke cross into the back of his own net under pressure from Marc Cucurella.

Chelsea should have already been a goal to the good but Nicolas Jackson fluffed his lines – a familiar tale this season.

The Blues were booed off the pitch after their first half display but Sancho redeemed his team-mates after he unleashed a brilliant curling effort into the top corner.

Chelsea came into the fixture having won each of their last five Premier League games at Stamford Bridge but failed to build momentum after their midweek win in Warsaw.

Cole Palmer delivered another weak performance but Fernandez continued his recent impressive form, while Sancho shined from the bench.

A victory would have propelled Chelsea into fourth place, a point ahead of reigning champions Manchester City, but a draw leaves Enzo Maresca’s side in fifth.

Here is how SunSport’s Conor Jones rated the Blues display…

ROBERT SANCHEZ – 4

The keeper had a quiet first half but failed to stop either of the goals and his distribution was poor.

The Spaniard faced very little in the second half as his side dominated possession and looked much more dangerous.

TREVOR CHALOBAH – 4

Pushed high to support Madueke and forced a save from Alex Palmer in the first half with a low, driven strike but it was a routine stop.

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The defender was at fault for the second goal where he was pulled out of position and failed to win a header over George Hirst, eventually leading to the Enciso cross and Johnson’s header at the back post.

Chalobah was then moved into centre half at the break and dealt with Ipswich’s counter-attacks reasonably well, denying Liam Delap a shot on goal shortly after he came on.

TOSIN ADARABIOYO – 5

The defender had a quiet game and will be disappointed to have conceded two at home after keeping a clean sheet away at Legia Warsaw.

Tosin didn’t offer a threat from set pieces and was part of Chelsea’s worst 45-minute period of the game.

Made way for Malo Gusto in the second half, with Trevor Chalobah moving across into centre-half.

LEVI COLWILL – 5

Started brightly, playing a brilliant pass through the lines from a free-kick which found Enzo Fernandez in the half space.

Managed to find himself open in the Ipswich box for a free header which should have found the back of the net but can instead be added to the list of missed chances for the Blues on the day.

Chelsea put in a poor display at the back as a group and allowed the visitors to capitalise on their mistakes.

Ultimately, the Englishman will be disappointed with his backline’s performance, especially after a clean sheet midweek.

MARC CUCURELLA – 6

The Spanish full-back was up to his usual tricks on Sunday, rolling in pain to win a free-kick in the first half leading to relentless boos from the travelling support.

The Spaniard’s defensive performance didn’t match his theatrics as he was caught on the back foot for the opening goal from Enciso and then beaten at the back post for Johnson’s header and Ipswich’s second.

Cucurella came out of the blocks firing in the second half and was in the box to bundle home Madueke’s cross, with the help of Tuanzebe.

Overall, he was dangerous and caused Ipswich more problems than most of the Blues’ front line.

MOISES CAICEDO – 5

Didn’t play noticeably badly but was part of a midfield that was caught out on the break for both goals.

Protected his back four with more consistency in the second half but recycled the ball well and regained possession on numerous occasions.

Needs to offer more going forward when his side are struggling to create.

ENZO FERNANDEZ – 7

Enzo was positive and drove the Blues’ attack forward throughout the first half, linking up well with Madueke and pressing eagerly with Palmer.

The Argentinian matched his attacking work rate at the back going forward and tried to drive his team up the pitch with every possession.

The midfielder was keen to take on shots and when his side were struggling he was the only player who showed signs of turning things around.

NONI MADUEKE – 6

Madueke was a threat down the right-hand side early on and pressed the Tractor Boys’ back line with enthusiasm but his day was defined by missed chances.

An awkward volley nearly crept past Alex Palmer at the near post but Ipswich fans were relieved to see it nestle into the outside netting.

The winger failed to convert again in the last ten minutes of the first half after Palmer slid in Cucurella and the Spaniard delivered a dangerous cut back which he spooned into row Z but delivered the assist to kickstart the comeback.

COLE PALMER – 4

Palmer started quietly but perked up around 15 minutes into the first half when he toyed with the Ipswich backline before combining well with Pedro Neto to fizz a ball across the six-yard line.

Yet, the young attacker looked hesitant and lacking in confidence as he failed to show the cut throat decision making and talent we saw in the first half of the season.

If the Englishman was hoping this fixture could be the turning point in a run of flat form, he was wrong.

PEDRO NETO – 6

Found acres of space on the right flank but failed to capitalise despite numerous balls into the box and consistent opportunities to cut in onto his right foot.

Came close with a volley from the edge of the area in the second half and picked up his performance in the second half but still lacked the cutting edge.

The winger had a half chance to win the game with a difficult volley in the box but could only slice the ball high and wide.

NICOLAS JACKSON – 4

Jackson showed signs of life but was kept quiet by Dara O’Shea and made a case for his side to start looking at strikers come the summer transfer window.

The striker should have scored in the eighth minute of the game after Enzo played a dangerous ball across the box from the right but he could only hit the post.

The Senegalese attacker lost the physical battle with Ipswich’s backline and failed to offer a dangerous outlet on the break which was where his side looked most dangerous.

SUBS

MALO GUSTO – 5

Came on to replace Tosin and offer a conventional full-back on the right-hand side which helped the home side’s stability in the second half.

Inverted well and helped contain Ipswich counter attacks by recycling the ball around the edge of the area and offered himself on the right flank.

JADON SANCHO – 7

Came on and scored a wonderful equaliser but didn’t have loads of opportunities to impact the game outside of his goal.

Overall, Maresca couldn’t ask for much more and Sancho rescued a point for his side.

CHRISTOPHER NKUNKU – 5

Did not make an impact in his few minutes on the pitch.