Father-son duo's financial literacy video goes viral

Father-son duo Kyren Gibson and Kyng Lyons Gibson went viral this weekend after posting a video showing off Kyng's knowledge on a topic most adults wish they knew more about: financial literacy.

"I want him to know the actual words, and it’s not a foreign language," Gibson, 28, told FOX Business. "I'm going to teach my son everything I can possibly teach him now."

In the video, Kyng aces the definitions of terms including liabilities, entrepreneurship, and commercial real estate and listens to his dad's message about the importance of staying out of debt.

Celebrities including hedge fund manager Clifford Asness and actress and director Elizabeth Banks shared the video on Twitter.

"If this kid, and only this kid, told me to abandon systematic value investing, I just might consider it," Asness wrote on Sunday.

Gibson, a fitness instructor from North Carolina, said teaching comes naturally to him. He doesn't want to wait until Kyng is a teenager to have conversations about "the real world."

THESE STATES HAVE RECEIVED THE MOST CORONAVIRUS CHECKS

Right now, Kyng wants to be either the president or a firefighter when he grows up "because I want to inspire people and make people happy," he told FOX Business.

"And I want to be a tycoon and run a lot of things," Kyng added.

Gibson encourages parents whose kids are doing school at home because of the pandemic to take time for subjects that teachers may not cover. He recommends starting with YouTube videos on practical topics and incentivizing kids with prizes.

"I would make my kids look up things you want them to study and know about ... then write up definitions and examples," he said. "It doesn't take all day to do that."

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Gibson said he grew up with family members who owned small businesses and wants his son to feel like he can start his own venture when he is an adult. The fitness instructor has had to make changes in his own business because of the pandemic: he pivoted to virtual sessions and plans to start giving online lectures with Kyng on a variety of subjects.

"I'm teaching myself at the same time I’m teaching him," Gibson said.

CLICK HERE TO GET FOX BUSINESS ON THE GO