Phaedra Parks gave her son a sizable investment for his 13th birthday.
The Real Housewives of Atlanta star revealed, “[Ayden] said he either wanted a dirt bike or a way to make money for his birthday. And so I said, ‘Well, definitely not gonna give you a dirt bike to kill yourself.” So, the 49-year-old told People, she gifted him $150,000 instead to “buy a piece of property.”
“And so now he’s basically trying to figure out if he wants to do a little multi-unit duplex, you know, [start] his own little rental properties,” the mom of two said.
The Real Housewives of Atlanta alum expressed her desire to lay the financial foundation for her kiddos to become successful.
“I don’t come from a bad family. I come from a middle-class family of educators. However, they didn’t have the type of income that I have,” she shared. “So while they probably would have wanted to able to do that, they didn’t have the means to give a kid $150,000 to buy something.”
Phaedra noted that 50 years ago, generating wealth was difficult, “especially for people of color.”
The entrepreneur claimed that her oldest boy is diversifying his financial portfolio to reach his goal of becoming a millionaire.
“Ayden is big into cryptocurrency and big into researching how to become a millionaire before he is 25,” Phaedra said. “And so he’s been talking about getting investment properties.”
The boy-mom shares sons, Ayden and Dylan, 10, with ex-husband Apollo Nida. Phaedra proudly shared her children have interests in wealth building and becoming financially successful.
“Both my sons love anything about making money in cryptocurrency,” Phaedra claimed, adding being financially literate at a young age will position them to become “financially stable” adults.
It is important for her sons, who are already well-traveled, to generate significant income since the reality star admits they’re “a bit bougie.”
“They’ve had their passport since birth. They’ve been to Paris, they’ve been to London, they’ve been to Cuba,” she revealed of her boy’s travels. “Dylan loves all Asian countries. That’s his big thing. My eldest son Ayden loves Paris because he thinks he can speak French well.”
Ms. Parks is not only teaching her boys the importance of a dollar but also the importance of “good manners.” She instilled 3threerules for them to live by, “Be respectful of adults, clean up behind yourself — and be grateful.”
The doting mom said, “I’m very proud to call them mine.”
Phaedra married Apollo Nida, 44, in 2009, and the pair divorced in 2017. In January, her ex-husband married Sherien Almufti after getting engaged while he was behind bars serving a sentence for conspiracy to commit mail, wire and bank fraud.
The attorney did not take her boys to see their incarcerated father for almost two years because it was “just too hard on them.” She did make sure could speak to Apollo “every day or every other day”.
Their rocky relationship played out on The Real Housewives of Atlanta as Apollo’s calm demeanor toward Phaedra slowly unraveled.
Luckily, the funeral owner has not given up on men. She revealed to Page Six in 2021 that she was ready to rendezvous with love again.
Happy Birthday, Ayden! Don’t go spending that $150k all in one place, but it seems like he may do just that!