đ° Raising Future Millionaires: The 7 Income Streams by Age 17 Challenge
At Minor Chores, we believe that financial literacy isnât just something kids should learn in school â itâs a skillset they should live. Our â7 Income Streams by Age 17â challenge (or 7x17 Blueprint) is designed to help families raise confident, capable, and financially independent children â one chore and investment at a time.
đ Why Multiple Income Streams Matter
Ask any financial expert: millionaires rarely rely on a single source of income. Building wealth typically comes from diversifying how money is earned â through business, interest, investment returns, and more. The earlier kids understand this concept, the more likely they are to apply it and benefit from it throughout their lives.
The 7x17 Challenge makes this concept real, tangible, and actionable â before high school graduation.
đ§ The Minor Chores 7x17 Blueprint
This challenge is fully supported inside the Minor Chores app, with accounts that grow with your child:
Minor Chore-preneur (Ages 12 and under)
Children start with a Minor Account, where they can list up to three chore-based services at a time. This could include dog walking, leaf raking, watering flowers, or helping a neighbor organize their garage. The focus here is consistency, responsibility, and variety â and over time, kids are encouraged to rotate through different services and explore what suits them best.
During this phase, families are also encouraged to open two essential financial accounts:
â A custodial brokerage account
â A custodial Roth IRA
These become the child's first two passive income streams, and help them start building wealth in a way most adults only wish they had done at a young age.
Major Chore-preneur (Ages 13-17)
Once your child turns 13, they upgrade to a Major Account â unlocking the ability to list five different seasonal or rotating services on their Minor Chores profile. This is when things start to feel like a real business. Theyâre encouraged to adapt services to meet seasonal demand, expand their customer base, and track repeat clients.
By age 17, theyâll not only have built diverse work experience, but also the habit of managing money, customers, and time.
â Total: 7 Income Streams by Age 17
5 rotating chore-based services
2 investment accounts
= 7 sources of income before adulthood
đ The Power of Early Investing
Starting early makes a huge difference.
Letâs say your child contributes $8,000 to their Roth IRA before age 18. If it earns an average 10% annual return, that money could grow to over $1 million by the time they retire.
Why? Because compound interest favors time â and your kid has it.
đ€ Partnering with Lake House Wealth Management
Weâve partnered with Lake House Wealth Management, a trusted financial firm that works closely with families to open custodial brokerage and Roth IRA accounts through Charles Schwab.
Parents can fill out a short form to connect with a certified financial advisor â who also happens to be the founderâs brother â and start the investment journey alongside their child.
đ§ Building Financial Literacy for Life
The 7x17 Challenge isnât just about chores â itâs about launching kids into adulthood with:
The confidence to earn
The discipline to save and invest
The entrepreneurial drive to grow
And a balanced portfolio of income streams
Theyâre learning to work with money, not just for it.
Ready to raise a future millionaire?
đČ Download the Minor Chores app today and begin the 7x17 journey as a family.