But I just wanted to add in a tooth fairy story. That one stage of growing up (when you realize parents are playing the roles of important mythical figures) was when I was 10. I must have had a bad dream because I ended up in my parents bed that night. So in the morning I checked under their pillows. Then I ran into my room to check mine. I think the tooth had fallen down somewhere because it was gone. I told my parents the tooth fairy forgot to leave me money. They said wait a minute, when into the room, came back out and said “check now.” I guess I was old enough then because it is a story that is amusing to me….

Fast forward another almost ten years and I get a phone call from my father today telling me that he cashed it in today and that he was going to be transferring the value to my account. Even at 26 years old, an extra $84 out of the blue is a nice bonus.

Don’t think that he’s too young to understand. He’ll grow up into it. Or he won’t. My brother still owns designer shades and is broke. And I took my $84 and put it back into a savings account.

I’m not a parent, so I have no idea if this concept could be understood by kids (which later when he really does learn about interest, he’d realize exactly what you were teaching him from a young age).

I was trying to think of a way to teach him interest, and that’s the way I was going with it when I was thinking about having a Tooth Fairy Bank. Trying to explain interest to a 5 year old is tough. When he’s a little bit older, I’ll try again.

He should also have an incentive to save i guess I hope I am not offending you.